Which of the following statements is (are) true about preference shares? (There may be more than one correct answer. You will lose marks by choosing a wrong answer. The minimum mark for the question is zero.)

Select one or more:

a. Preference shareholders have voting rights.

b. Compared to ordinary shareholders, preference shareholders require a higher expected return from their investments.

c. None of the other statements is true.

d. Preference shareholders have priority over bondholders in the case of bankruptcy.

e. Preference shareholders dividends are paid from profit before tax.