The cumulative feature of a preferred stock requires the issuer to O pay cash dividends to existing preferred stockholders every year increase the par value of its preferred stock when market interest rates increase allow preferred stockholders to vote for the board of directors every year pay preferred dividends not paid in prior years before any common stock dividends are paid allow stockholders to convert their preferred stock into common stock when they want Question 9 (2 points) When a corporation distributes bankruptcy proceeds, which of the following group is paid first? bondholders O common stockholders O preferred stockholders all groups above have the same priority