Which of the Following Statements Is Most Correct? the Holder

Which of the following statements is most correct? The holder of a participating preference share is:

A) Entitled to repayment by the company on a fixed date and is entitled to receive a fixed annual dividend.
B) Entitled to a fixed annual dividend and in some instances can also get an additional dividend if the company performs well
C) Entitled to a fixed annual dividend that can be waived.
D) Entitled to a fixed annual dividend that can be waived, though must be paid for in future periods before dividends are distributed to equity holders