State owned shareholders have a strong preference for cash dividend, and it has low degree of embezzlements than non-state-owned shareholders.

国有控股股东有很强的现金股利偏好，但是其对上市公司的资金侵占程度比非国有控股股东低。

youdao

His preference: pay shareholders more for holding the stock, and borrow to do so if necessary.

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He wants Apple to issue perpetual preference shares to existing shareholders.

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My preference as a shareholder is for there to be lots of bidders for my shares and shareholders willing to pay a premium for those shares.

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