Convertible means that it can be converted to common stock.Cumulative refers to the dividend payment schedule.Hope that helps,still learning here too.GLTY.
brwtrpilot Cumulative is if they don't pay a dividend the dividens will keep adding up till they are paid.Then they will pay all that is owe.(or what they can aford) . Noncumlative if they miss a dividen payment they will not pay you any time the miss dividend. I notis banks mostly have nonculative dividends. Note the 7% is based on $25.00 not on what you bought it at. They will pay $1.75 if you bought at $1.00 or $30.00.
brwtrpilot Exchangeable means you can exchange them. When they were issued out their exchange was $25.00 to $34.28 or about 1 to 1 1/3 common stock. Right now it would not be good. When the preferred are first issued out they let the buyer know how long for sure they will be getting the dividens Then they could buy them back. If they did it would be $25.00 plus any dividends. If they don't go bankrupt they mature in 2012 They must buy them back then. liquidation going bankrupt. In Quantumonline go to for the far right they have a couple places where they have different definations.
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