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.

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如果超过5年或6年都是这种情况，其影响就比较可观了，所以试着在谈判条款中把股息规定为非累积的。

If this happens over five or six years, the impact can be substantial, so try to negotiate a clause that makes the dividends noncumulative.

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