Actions a dividende prioritaire sans droit de vote
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11:44 May 26, 2000
French to English translations [PRO] Bus/Financial
French term or phrase:Actions a dividende prioritaire sans droit de vote
could somebody please explain the difference between the two as they are both translated as 'non-voting preference shares' by the Robert & Collins du Management. Merci d'avance.
Explanation: Here are some explanations from Termium: English:Investment
Finance preferred dividend s CORRECT preferred stock dividend s CORRECT preferred share dividend s CORRECT preference dividend s CORRECT DEF - A dividend to holders of preferred stock, usually at a fixed rate per quarter expressed in a percentage or in dollars per share. s English:Stock Exchange Investment
voting right s CORRECT DEF - The stockholder's right to vote in the affairs of his company. Most common shares have one vote each. Preferred stock usually has the right to vote when preferred dividends are in default. The right to vote may be delegated by the shareholder to another person. s
Explanation: Preferred shares [or preferred stock] do not usually have voting rights. Voting rights are usually carried by common stock. But in France they are making these financial instruments is preferres shares with voting rights. Smile. Voting rights are the rights the owners of common stock have to vote in person or by proxy on corporate resolutions and the election of directors. There are two basic classes of shares: common and preferred. Both have different rights. Any financial website can give you furher info. so can Barron's financial and investment dictionary.
"share with priority dividend but no voting right", "non-voting preference shares"
Explanation: Here is what the first site quoted below says: "the Law of 1966 provides for a specific kind of share which grants a priority in the dividends: this is the share with priority dividend but no voting right, the action à dividende prioritaire sans droit de vote (Sections 269-1 to 269-9 of the French Company Law). In exchange of the lack of voting rights, holders of such shares are entitled to a priority dividend that is paid before any other allocation of the profit. If the priority dividend is not fully paid for three times, the voting rights resume automatically until full payment." I think this is the translation you are looking for. The second site quoted below uses the second expression "non-voting preference shares", a more compact one. Your pick!