Normally, only the owners of preferred stock are permitted to vote on certain key matters concerning the firm, such as the election of the board of directors.

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Normally, it is the owners of common stock who have the voting rights on key matters, including the election of the board of directors, not the owners of preferred stock. Preferred stock typically offers benefits like fixed dividends and priority over common stock in asset distribution upon liquidation, but usually does not include voting rights.

Normally, Only the Owners of Preferred Stock Are Permitted to Vote