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(you)于(yu)優先股(gu)(gu)股(gu)(gu)息(xi)率事(shi)先固(gu)定,所以優先股(gu)(gu)的股(gu)(gu)息(xi)一般不會根據公(gong)(gong)司經(jing)營(ying)情況(kuang)而增減(jian),而且一般也不能參與(yu)公(gong)(gong)司的分紅(hong),但優先股(gu)(gu)可以先于(yu)普通股(gu)(gu)獲得(de)股(gu)(gu)息(xi)。對公(gong)(gong)司來說,由(you)于(yu)股(gu)(gu)息(xi)固(gu)定,它不影響公(gong)(gong)司的利潤(run)分配(pei)。
2、優先股的權利范圍小
優(you)(you)先股(gu)(gu)(gu)股(gu)(gu)(gu)東一(yi)般沒(mei)有(you)選(xuan)舉權(quan)(quan)(quan)和被選(xuan)舉權(quan)(quan)(quan),對(dui)股(gu)(gu)(gu)份公司(si)的(de)重大(da)經營無(wu)投票(piao)權(quan)(quan)(quan),但在某些情(qing)況下可以享有(you)投票(piao)權(quan)(quan)(quan)。有(you)限(xian)表(biao)決(jue)權(quan)(quan)(quan),對(dui)于優(you)(you)先股(gu)(gu)(gu)股(gu)(gu)(gu)東的(de)表(biao)決(jue)權(quan)(quan)(quan)限(xian)財務管理中有(you)嚴格(ge)限(xian)制,優(you)(you)先股(gu)(gu)(gu)東在一(yi)般股(gu)(gu)(gu)東大(da)會中無(wu)表(biao)決(jue)權(quan)(quan)(quan)或(huo)限(xian)制表(biao)決(jue)權(quan)(quan)(quan),或(huo)者(zhe)縮減表(biao)決(jue)權(quan)(quan)(quan),但當(dang)召開會議討論與優(you)(you)先股(gu)(gu)(gu)股(gu)(gu)(gu)東利益(yi)有(you)關(guan)的(de)事項時,優(you)(you)先股(gu)(gu)(gu)東具有(you)表(biao)決(jue)權(quan)(quan)(quan)。
3、優先股優先償還
如果公司發(fa)生破產清(qing)算,那么優先股(gu)的債(zhai)權優先于(yu)普通(tong)股(gu)進行清(qing)算。
優(you)先股(gu)是(shi)“普通(tong)股(gu)”對稱,是(shi)股(gu)份(fen)公司發行的(de)在(zai)分配紅(hong)利和(he)剩(sheng)余(yu)財產(chan)時比普通(tong)股(gu)具有優(you)先權的(de)股(gu)份(fen)。
普通股和優先股的區別
1、普通(tong)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)可以(yi)全面(mian)參與(yu)公(gong)司(si)的經營管(guan)理(li)(li),享有資產收益、參與(yu)重大決(jue)策和選擇管(guan)理(li)(li)者(zhe)等權(quan)利(li),而(er)優(you)先(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)一般不參與(yu)公(gong)司(si)的日常(chang)經營管(guan)理(li)(li),一般情況下(xia)不參與(yu)股(gu)(gu)(gu)東(dong)大會投票,但在某些特殊情況下(xia),例如,公(gong)司(si)決(jue)定發行新的優(you)先(xian)股(gu)(gu)(gu),優(you)先(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)才有投票權(quan)。同時(shi)(shi),為了(le)保護(hu)優(you)先(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)利(li)益,如果公(gong)司(si)在約定的時(shi)(shi)間內(nei)未按規定支(zhi)付股(gu)(gu)(gu)息,優(you)先(xian)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)按約定恢復表決(jue)權(quan);如果公(gong)司(si)支(zhi)付了(le)所欠股(gu)(gu)(gu)息,已恢復的優(you)先(xian)股(gu)(gu)(gu)表決(jue)權(quan)終止(zhi)。
2、相對于普通股股(gu)東,優先股(gu)股(gu)東在公司(si)利潤和剩余財產的(de)分配上享有優先權。
3、普(pu)通股股東的(de)(de)股息(xi)收益(yi)并不(bu)固定,既取決于公(gong)司當(dang)年贏(ying)利狀況,還要(yao)看當(dang)年具體的(de)(de)分(fen)(fen)(fen)配政策,很(hen)有(you)可能公(gong)司決定當(dang)年不(bu)分(fen)(fen)(fen)配。而(er)優先股的(de)(de)股息(xi)收益(yi)一般是(shi)固定的(de)(de),尤(you)其對于具有(you)強(qiang)制分(fen)(fen)(fen)紅條款的(de)(de)優先股而(er)言,只(zhi)要(yao)公(gong)司有(you)利潤可以分(fen)(fen)(fen)配,就應當(dang)按照約定的(de)(de)數(shu)額向優先股股東支付(fu)。
4、普通股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)除了獲(huo)取(qu)股(gu)(gu)(gu)息收(shou)益外,收(shou)益來源二級市(shi)場價(jia)格(ge)上漲也(ye)是(shi)重要的(de)(de);而優先股(gu)(gu)(gu)的(de)(de)二級市(shi)場股(gu)(gu)(gu)價(jia)波動相對較(jiao)小,依靠買(mai)賣價(jia)差獲(huo)利的(de)(de)空(kong)間也(ye)較(jiao)小。
5、普通股(gu)股(gu)東不能(neng)要求退(tui)股(gu),只能(neng)在二級市場上(shang)變現退(tui)出;如(ru)有約(yue)定,優先(xian)股(gu)股(gu)東可依約(yue)將(jiang)股(gu)票回售給公(gong)司(si)。