The owner of preferred stock:

a.	owns shares that generally have a stated liquidating value of $1,000 per share.
b.	has the right to veto the outcome of an election held by the common shareholders.
c.	has the right to collect payment on any unpaid dividends as long as the stock is non-cumulative preferred.
d.	is entitled to a distribution of income prior to the common shareholders.
e.	is guaranteed voting rights similar to a common shareholder.