An investor who owns preferred stock has

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Preferred stockholders have preferential treatment in the payment of dividends, meaning they receive their dividends before common stockholders. They do not typically have voting rights and do not have unlimited liability for the debts of the firm like a general partner. While they do have some similarities to bondholders in terms of receiving fixed income, they still have ownership in the company and may benefit from any appreciation in the stock price.

An Investor Who Owns Preferred Stock Has