The characteristics of preferred stock are BEST described as: Preference as to dividends over common stockholders, guaranteed annual dividends, growth in dividends through increased corporate profits. Guaranteed annual dividends, preference as to dividends over common stockholders, stated dividend rate. Preferences as to dividends over common stockholders, priority in liquidation over creditors, guaranteed annual dividends. Preference as to dividends over common stockholders, stated dividend rate, preference in liquidation over common stockholders