In a smaller number of contracts in which the Treasury got so-called noncumulative preferred stock, the bank can skip dividend payments without penalty. ❋ Unknown (2009)
"noncumulative" -- meaning that the company can skip dividend payments without the obligation to make up the difference later. ❋ Unknown (2009)
Similarly, Fannie Mae issued $9 billion in new noncumulative preferred stock in 2007. ❋ Unknown (2010)
Fannie and Freddie's response to their capital crises was to issue a ton of new "noncumulative preferred stock" -- a somewhat arcane security that, along with common stock, qualifies as "core" capital. ❋ Unknown (2010)
In Brief Reports Citi Stake In a Securities and Exchange Commission filing, the Government of Singapore Investment Corp. reported a passive 5.3% stake in Citigroup Inc., or a beneficial stake of 303.8 million shares, including 261 million shares into which 137,600 shares of 7% noncumulative convertible preferred stock may be converted. ❋ Unknown (2009)
While normal scientific work is highly cumulative, acquiring a new paradigm is a noncumulative scientific change, a rupture, a break from the past. ❋ Nickles, Thomas (2009)
The ratings firm is mulling an upgrade for both its B3 ratings on the noncumulative preferred securities issued by Bank of America and its Ba3 rating on the cumulative preferred securities issued by its preferred funding unit. ❋ Unknown (2009)
Of the 662 institutions in which Treasury had invested TARP capital as of the end of July, about 82 pay noncumulative dividends, meaning they are never liable for dividends they don't declare or pay for a particular quarter. ❋ Unknown (2009)
To conserve capital, IndyMac said it will defer interest payments on trust preferred securities issued by the holding company and suspend dividends on noncumulative, perpetual preferred stock issued by IndyMac Bank, its savings-and-loan subsidiary. ❋ Unknown (2008)
Specifically, Bank of America priced $6 billion in depositary shares representing an interest in shares of noncumulative perpetual preferred stock. ❋ Unknown (2008)
The bank also priced $6 billion in noncumulative perpetual convertible preferred stock. ❋ Unknown (2008)
"The next potential wave of write-downs in financials will likely be met by more straight-equity issuance, as hybrid issuance for large banks already is at or even above regulatory limits, while noncumulative preferred issuance eventually becomes limited through ratings," Banc of America analysts said in a research note. ❋ Romy Varghese (2008)
The government-sponsored provider of funds for home mortgages said the sale will consist of "a larger offering of nonconvertible noncumulative perpetual preferred stock, and a substantially smaller offering of convertible non-cumulative perpetual preferred stock." ❋ Unknown (2007)
With noncumulative preferred stock, if the issuer skips a dividend payment, there is no obligation to make up for that later. ❋ Unknown (2007)
Freddie has decided to issue only perpetual, noncumulative preferred stock in the offering, this person said. ❋ Unknown (2007)
Freddie Mac sold $6 billion of nonconvertible noncumulative perpetual preferred stock at a dividend rate of 8.375% fixed for five years, the company said. ❋ Unknown (2007)
Fannie Gets $7 Billion From Sale of Preferreds Fannie Mae sold $7 billion of noncumulative, nonconvertible, perpetual preferred stock at a dividend rate of 8.25%. ❋ Unknown (2007)
Freddie Mac, which said yesterday it was selling preferred stock to raise up to $6 billion, said the sale will consist of "a larger offering of nonconvertible noncumulative perpetual preferred stock, and a substantially smaller offering of convertible noncumulative perpetual preferred stock." ❋ Unknown (2007)
South Carolina and Arkansas retain the levy, but in each instance the amount is only one dollar, it is noncumulative, and it is payable only one or two months before the election. ❋ Staff (2000)
In addition, the Board of Directors declared a 10% noncumulative annual dividend of $5.00 ❋ Unknown (2011)
