NGL Energy Partners LP (NGL)

[jugs]

On my cell so unable to be sure I cover all bases as I cannot refer back to your post.

The distribution can be variable in the case of preferreds but this is not the usual scenario. The BOD will decide on a quarterly, semiannually or annual basis as written into the company's distribution policy precisely what the distribution is to be next.

Yes, preferreds get theirs before holders of commons, ALWAYS! This is a lot of what people find attractive. Also, in a liquidation situation, preferreds get paid before common stock holders get anything.

Banks and other institutions are often what we call stakeholders and they are regarded as more vital to the company than are we common holders. Therefore, stakeholders are first in line in dire situations with preferreds and commons next, in that order.

Understand: Before any liquidative actions, outstanding liabilities must be addressed first. Then it's on to the feeding frenzy.