優先股的特點
1、優先股通常預先確定明確的股息收益率
由于(yu)(yu)優先(xian)(xian)(xian)股(gu)股(gu)息率事先(xian)(xian)(xian)固定,所(suo)以優先(xian)(xian)(xian)股(gu)的(de)股(gu)息一般不(bu)會(hui)根據(ju)公(gong)司(si)(si)經營情況而增減,而且一般也(ye)不(bu)能參與公(gong)司(si)(si)的(de)分紅(hong),但優先(xian)(xian)(xian)股(gu)可(ke)以先(xian)(xian)(xian)于(yu)(yu)普通股(gu)獲得股(gu)息。對公(gong)司(si)(si)來說(shuo),由于(yu)(yu)股(gu)息固定,它不(bu)影(ying)響公(gong)司(si)(si)的(de)利潤分配。
2、優先股的權利范圍小
優先(xian)(xian)股(gu)(gu)(gu)(gu)股(gu)(gu)(gu)(gu)東一般沒有(you)選舉(ju)權(quan)(quan)(quan)和(he)被選舉(ju)權(quan)(quan)(quan),對(dui)股(gu)(gu)(gu)(gu)份公司的(de)重大經營無(wu)投票(piao)權(quan)(quan)(quan),但在(zai)(zai)某些情況下可以享有(you)投票(piao)權(quan)(quan)(quan)。有(you)限表(biao)(biao)決(jue)權(quan)(quan)(quan),對(dui)于(yu)優先(xian)(xian)股(gu)(gu)(gu)(gu)股(gu)(gu)(gu)(gu)東的(de)表(biao)(biao)決(jue)權(quan)(quan)(quan)限財(cai)務(wu)管理(li)中有(you)嚴格限制,優先(xian)(xian)股(gu)(gu)(gu)(gu)東在(zai)(zai)一般股(gu)(gu)(gu)(gu)東大會(hui)中無(wu)表(biao)(biao)決(jue)權(quan)(quan)(quan)或限制表(biao)(biao)決(jue)權(quan)(quan)(quan),或者縮減(jian)表(biao)(biao)決(jue)權(quan)(quan)(quan),但當召開會(hui)議討論與(yu)優先(xian)(xian)股(gu)(gu)(gu)(gu)股(gu)(gu)(gu)(gu)東利益有(you)關的(de)事項時,優先(xian)(xian)股(gu)(gu)(gu)(gu)東具有(you)表(biao)(biao)決(jue)權(quan)(quan)(quan)。
3、優先股優先償還
如果(guo)公司(si)發生破產清算,那么優(you)(you)先(xian)股(gu)的(de)債權優(you)(you)先(xian)于普通股(gu)進行(xing)清算。
優(you)先股(gu)(gu)是(shi)“普通股(gu)(gu)”對稱(cheng),是(shi)股(gu)(gu)份公司(si)發行的在分(fen)配(pei)紅(hong)利和剩(sheng)余(yu)財產(chan)時比(bi)普通股(gu)(gu)具有優(you)先權的股(gu)(gu)份。
普通股和優先股的區別
1、普通股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)可以全面參(can)與公司(si)的經營管理(li)(li),享有資產收(shou)益(yi)、參(can)與重大(da)(da)決(jue)(jue)(jue)策和選擇管理(li)(li)者等權(quan)利(li),而優(you)先(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)一般不參(can)與公司(si)的日常(chang)經營管理(li)(li),一般情(qing)況下(xia)不參(can)與股(gu)(gu)(gu)東(dong)(dong)(dong)大(da)(da)會投(tou)票,但在某些特殊(shu)情(qing)況下(xia),例(li)如(ru),公司(si)決(jue)(jue)(jue)定發行(xing)新的優(you)先(xian)(xian)股(gu)(gu)(gu),優(you)先(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)才有投(tou)票權(quan)。同時,為了保護優(you)先(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)利(li)益(yi),如(ru)果(guo)公司(si)在約定的時間內未按規定支(zhi)(zhi)付(fu)股(gu)(gu)(gu)息,優(you)先(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)按約定恢復表決(jue)(jue)(jue)權(quan);如(ru)果(guo)公司(si)支(zhi)(zhi)付(fu)了所欠股(gu)(gu)(gu)息,已恢復的優(you)先(xian)(xian)股(gu)(gu)(gu)表決(jue)(jue)(jue)權(quan)終止。
2、相對于普通股股(gu)東,優先(xian)股(gu)股(gu)東在公司利潤和剩余(yu)財產的(de)分配上享有優先(xian)權。
3、普通股(gu)(gu)股(gu)(gu)東的(de)股(gu)(gu)息收益并不固定,既(ji)取(qu)決于(yu)公司當(dang)(dang)年贏(ying)利狀況(kuang),還要(yao)看當(dang)(dang)年具(ju)體的(de)分配(pei)政策,很有可(ke)能公司決定當(dang)(dang)年不分配(pei)。而優(you)先股(gu)(gu)的(de)股(gu)(gu)息收益一般是固定的(de),尤(you)其對于(yu)具(ju)有強(qiang)制分紅(hong)條(tiao)款的(de)優(you)先股(gu)(gu)而言,只要(yao)公司有利潤可(ke)以分配(pei),就(jiu)應當(dang)(dang)按照約定的(de)數額向優(you)先股(gu)(gu)股(gu)(gu)東支(zhi)付。
4、普(pu)通股股東除了獲取(qu)股息(xi)收(shou)益外(wai),收(shou)益來源二(er)(er)級市場價格上漲也(ye)(ye)是重(zhong)要的(de);而優先股的(de)二(er)(er)級市場股價波動相對較(jiao)小,依(yi)靠買賣價差獲利的(de)空間也(ye)(ye)較(jiao)小。
5、普通股(gu)(gu)股(gu)(gu)東(dong)不能要求退股(gu)(gu),只能在(zai)二(er)級(ji)市場上變現(xian)退出;如有(you)約定,優先股(gu)(gu)股(gu)(gu)東(dong)可依(yi)約將股(gu)(gu)票回售給公司(si)。