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)股(gu)(gu)股(gu)(gu)息率事先(xian)(xian)固(gu)定,所以(yi)優先(xian)(xian)股(gu)(gu)的股(gu)(gu)息一般(ban)不會根(gen)據(ju)公司(si)(si)經營情況而增減,而且一般(ban)也不能參與公司(si)(si)的分紅(hong),但(dan)優先(xian)(xian)股(gu)(gu)可以(yi)先(xian)(xian)于(yu)(yu)普通股(gu)(gu)獲得股(gu)(gu)息。對(dui)公司(si)(si)來(lai)說(shuo),由于(yu)(yu)股(gu)(gu)息固(gu)定,它不影響公司(si)(si)的利潤分配。
2、優先股的權利范圍小
優(you)(you)先股(gu)股(gu)東(dong)(dong)一(yi)(yi)般沒有(you)選(xuan)舉權(quan)和被(bei)選(xuan)舉權(quan),對股(gu)份公司的重(zhong)大(da)(da)經營無(wu)投(tou)票(piao)權(quan),但在(zai)某些情況下可(ke)以(yi)享有(you)投(tou)票(piao)權(quan)。有(you)限(xian)(xian)表決(jue)(jue)權(quan),對于(yu)優(you)(you)先股(gu)股(gu)東(dong)(dong)的表決(jue)(jue)權(quan)限(xian)(xian)財務管理(li)中有(you)嚴格(ge)限(xian)(xian)制,優(you)(you)先股(gu)東(dong)(dong)在(zai)一(yi)(yi)般股(gu)東(dong)(dong)大(da)(da)會中無(wu)表決(jue)(jue)權(quan)或限(xian)(xian)制表決(jue)(jue)權(quan),或者縮減(jian)表決(jue)(jue)權(quan),但當召(zhao)開會議討論(lun)與優(you)(you)先股(gu)股(gu)東(dong)(dong)利益有(you)關的事項時,優(you)(you)先股(gu)東(dong)(dong)具有(you)表決(jue)(jue)權(quan)。
3、優先股優先償還
如果公(gong)司發(fa)生破產清算(suan),那(nei)么(me)優先(xian)股的債權優先(xian)于普通股進行清算(suan)。
優先股是“普通(tong)股”對稱,是股份公(gong)司(si)發行的在(zai)分配紅利和(he)剩余財產時比普通(tong)股具有優先權的股份。
普通股和優先股的區別
1、普通(tong)股(gu)(gu)股(gu)(gu)東可以全(quan)面(mian)參(can)(can)(can)與(yu)公(gong)(gong)(gong)(gong)司(si)(si)的(de)(de)經營(ying)管(guan)理(li),享有資產收(shou)益、參(can)(can)(can)與(yu)重(zhong)大決(jue)(jue)策和選擇(ze)管(guan)理(li)者等權利(li),而優(you)先(xian)股(gu)(gu)股(gu)(gu)東一般不(bu)參(can)(can)(can)與(yu)公(gong)(gong)(gong)(gong)司(si)(si)的(de)(de)日常經營(ying)管(guan)理(li),一般情況(kuang)下不(bu)參(can)(can)(can)與(yu)股(gu)(gu)東大會(hui)投票(piao),但在某些特(te)殊情況(kuang)下,例如,公(gong)(gong)(gong)(gong)司(si)(si)決(jue)(jue)定(ding)(ding)發行新的(de)(de)優(you)先(xian)股(gu)(gu),優(you)先(xian)股(gu)(gu)股(gu)(gu)東才有投票(piao)權。同時(shi),為了保護優(you)先(xian)股(gu)(gu)股(gu)(gu)東利(li)益,如果(guo)公(gong)(gong)(gong)(gong)司(si)(si)在約定(ding)(ding)的(de)(de)時(shi)間內未按規定(ding)(ding)支付(fu)股(gu)(gu)息(xi),優(you)先(xian)股(gu)(gu)股(gu)(gu)東按約定(ding)(ding)恢復表決(jue)(jue)權;如果(guo)公(gong)(gong)(gong)(gong)司(si)(si)支付(fu)了所(suo)欠股(gu)(gu)息(xi),已恢復的(de)(de)優(you)先(xian)股(gu)(gu)表決(jue)(jue)權終止(zhi)。
2、相對于普通股股(gu)東,優(you)先股(gu)股(gu)東在公司利潤和剩余財產(chan)的分配上享有優(you)先權。
3、普通股(gu)股(gu)東(dong)的(de)(de)(de)股(gu)息收(shou)益并不(bu)固(gu)定(ding),既(ji)取決(jue)于(yu)公司(si)當(dang)年(nian)贏利狀況,還要看當(dang)年(nian)具體(ti)的(de)(de)(de)分(fen)配政(zheng)策(ce),很有可(ke)能公司(si)決(jue)定(ding)當(dang)年(nian)不(bu)分(fen)配。而(er)優先股(gu)的(de)(de)(de)股(gu)息收(shou)益一般是固(gu)定(ding)的(de)(de)(de),尤其對于(yu)具有強制(zhi)分(fen)紅條款的(de)(de)(de)優先股(gu)而(er)言,只要公司(si)有利潤可(ke)以分(fen)配,就應當(dang)按(an)照約(yue)定(ding)的(de)(de)(de)數(shu)額向優先股(gu)股(gu)東(dong)支付。
4、普通股(gu)(gu)股(gu)(gu)東除了(le)獲(huo)(huo)取股(gu)(gu)息收(shou)益外,收(shou)益來源二(er)(er)級市場(chang)價格上漲也是重(zhong)要(yao)的;而優先(xian)股(gu)(gu)的二(er)(er)級市場(chang)股(gu)(gu)價波動相(xiang)對(dui)較小,依靠買賣價差獲(huo)(huo)利(li)的空間也較小。
5、普通股股東不能要求退股,只能在二級市場上變現退出(chu);如有約定,優先股股東可依約將(jiang)股票回售給公司。