Unpaid dividends on cumulative preferred stock are called dividends payable.

Name: Unpaid dividends on cumulative preferred stock are called dividends payable.
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Dividends payable represent dividends which have been declared by the board of directors but have not yet been paid.Dividends in arrears represent the cumulative unpaid dividends on cumulative preferred stock.These dividends must be paid before any common dividends can be paid.

Unpaid Dividends on Cumulative Preferred Stock Are Called Dividends Payable