优先股股东并不确定会收到固定的优先股股息，可能是累积股息或非累积股息。
Depending upon whether the preferred stock is cumulative or non-cumulative (discussed in M2T1), even preferred shareholders may not be sure of receiving dividend payments on a regular basis.
雷曼兄弟此次将发售三百万股非累积永久性可转换优先股。
Specifically, Lehman will offer three million shares of noncumulative perpetual convertible preferred stock.
非累积优先股如果公司没有分配红利，那么这些红利不会累积到下一次。
Preferred stock whose dividends do not accrue until paid. If a dividend is missed...
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