5. Noncumulative preferred shares A company with a cumulative dividend requirement must make up any skipped dividend payments to holders of before paying any skipped dividend payments for holders of shares. True or False: Noncumulative preferred shares are discounted at a higher rate than cumulative preferred shares. True False 5. Noncumulative preferred shares A company with a cumulative dividend requirement must make up any skipped dividend payments to holders of before paying any skipped dividend payments for holders of shares, True or False: Noncumulative preferred shares are discounte: amulative preferred shares. True False