Fannie Mae-No Politics (FNMA)

[Hvp123]

The potential to receive dividends is a fundamental incident of stock ownership. Consistent with the enabling nature of the DGCL, Section 151(c) authorizes corporations to pay dividends to holders of preferred stock “in preference to, or in . . . relation to, the dividends payable on any other class or classes or of any other series of stock[.]” 8 Del. C. § 151(c).

Good read
http://cfif.org/v/images/pdfs/Amicus-Curiae-Brief.pdf