優先股的特點
1、優先股通常預先確定明確的股息收益率
由于優(you)先股(gu)股(gu)息率事先固定(ding),所以優(you)先股(gu)的(de)(de)股(gu)息一(yi)般(ban)不會根據公(gong)司(si)經營(ying)情況而(er)增減,而(er)且一(yi)般(ban)也不能參(can)與(yu)公(gong)司(si)的(de)(de)分(fen)紅,但優(you)先股(gu)可(ke)以先于普通股(gu)獲得(de)股(gu)息。對(dui)公(gong)司(si)來說,由于股(gu)息固定(ding),它不影響(xiang)公(gong)司(si)的(de)(de)利潤分(fen)配。
2、優先股的權利范圍小
優先股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)一般沒(mei)有(you)(you)選(xuan)舉(ju)權(quan)和被(bei)選(xuan)舉(ju)權(quan),對(dui)股(gu)(gu)(gu)份公司的重大經營無(wu)投票權(quan),但(dan)在(zai)某些情況下(xia)可(ke)以(yi)享有(you)(you)投票權(quan)。有(you)(you)限表決(jue)(jue)權(quan),對(dui)于優先股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)的表決(jue)(jue)權(quan)限財務管理中有(you)(you)嚴格限制(zhi),優先股(gu)(gu)(gu)東(dong)(dong)(dong)在(zai)一般股(gu)(gu)(gu)東(dong)(dong)(dong)大會中無(wu)表決(jue)(jue)權(quan)或(huo)限制(zhi)表決(jue)(jue)權(quan),或(huo)者縮(suo)減(jian)表決(jue)(jue)權(quan),但(dan)當召開會議討論與優先股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)(dong)(dong)利益有(you)(you)關的事項時(shi),優先股(gu)(gu)(gu)東(dong)(dong)(dong)具(ju)有(you)(you)表決(jue)(jue)權(quan)。
3、優先股優先償還
如果公(gong)司發生破產清算(suan),那(nei)么(me)優先股的債權優先于普通股進行清算(suan)。
優先股(gu)(gu)是“普(pu)通(tong)股(gu)(gu)”對稱,是股(gu)(gu)份(fen)公司發行的(de)在分配紅(hong)利和剩余財產時比(bi)普(pu)通(tong)股(gu)(gu)具有(you)優先權(quan)的(de)股(gu)(gu)份(fen)。
普通股和優先股的區別
1、普通股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)可(ke)以全面參與公(gong)(gong)(gong)司(si)的(de)經(jing)營(ying)管(guan)(guan)理(li)(li),享有資(zi)產收益、參與重大決(jue)策(ce)和選擇(ze)管(guan)(guan)理(li)(li)者等權(quan)利,而(er)優(you)先(xian)(xian)(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)一般不參與公(gong)(gong)(gong)司(si)的(de)日常經(jing)營(ying)管(guan)(guan)理(li)(li),一般情況(kuang)(kuang)下不參與股(gu)(gu)(gu)東(dong)大會投(tou)(tou)票,但在(zai)某些特殊情況(kuang)(kuang)下,例如(ru),公(gong)(gong)(gong)司(si)決(jue)定(ding)發行(xing)新的(de)優(you)先(xian)(xian)(xian)(xian)股(gu)(gu)(gu),優(you)先(xian)(xian)(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)才有投(tou)(tou)票權(quan)。同時,為(wei)了保護優(you)先(xian)(xian)(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)利益,如(ru)果(guo)公(gong)(gong)(gong)司(si)在(zai)約定(ding)的(de)時間內未按規定(ding)支付股(gu)(gu)(gu)息,優(you)先(xian)(xian)(xian)(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)按約定(ding)恢復(fu)表決(jue)權(quan);如(ru)果(guo)公(gong)(gong)(gong)司(si)支付了所欠(qian)股(gu)(gu)(gu)息,已(yi)恢復(fu)的(de)優(you)先(xian)(xian)(xian)(xian)股(gu)(gu)(gu)表決(jue)權(quan)終止。
2、相對于普通股股(gu)東(dong)(dong),優(you)先股(gu)股(gu)東(dong)(dong)在公司利潤和剩余財產的分配上享有優(you)先權。
3、普通股(gu)(gu)股(gu)(gu)東的股(gu)(gu)息收益并不固定,既取決(jue)于公司(si)當年贏利狀(zhuang)況,還要(yao)看當年具體的分(fen)配政策,很有可(ke)能公司(si)決(jue)定當年不分(fen)配。而優先(xian)(xian)(xian)股(gu)(gu)的股(gu)(gu)息收益一(yi)般(ban)是固定的,尤其(qi)對于具有強(qiang)制分(fen)紅條款的優先(xian)(xian)(xian)股(gu)(gu)而言,只要(yao)公司(si)有利潤可(ke)以分(fen)配,就應(ying)當按照約定的數(shu)額向優先(xian)(xian)(xian)股(gu)(gu)股(gu)(gu)東支(zhi)付(fu)。
4、普通股(gu)股(gu)東除(chu)了獲取股(gu)息收(shou)益外(wai),收(shou)益來(lai)源二級市場價(jia)格(ge)上漲也(ye)是重要的(de);而優(you)先股(gu)的(de)二級市場股(gu)價(jia)波動相(xiang)對較小,依(yi)靠買賣價(jia)差獲利的(de)空(kong)間也(ye)較小。
5、普通股(gu)(gu)股(gu)(gu)東不(bu)能要求退股(gu)(gu),只能在二級(ji)市(shi)場(chang)上(shang)變現退出;如有約定,優先股(gu)(gu)股(gu)(gu)東可依約將股(gu)(gu)票回售(shou)給(gei)公司。