The redemption will include all 5,400 shares of its Fixed Rate Noncumulative Perpetual Preferred Stock, Series D; all 29,900 shares of its Fixed Rate Noncumulative Preferred Stock
, Series E; and all 10,000 shares of its Fixed Rate Noncumulative Preferred Stock
, Series F; as well as the corresponding Depositary Shares, each representing a 1/1,000th interest in a share of the Preferred Stock.
- 5.80% Noncumulative Preferred Stock
, Series C, payable October 22, 2018, to holders of record on October 12, 2018.
The noncumulative preferred stock
ratings of The Goldman Sachs
For example, assume that pursuant to a recapitalization a stockholder transfers common stock to a family member and retains noncumulative preferred stock
(a noncumulative distribution right under #2 above).
The Tier 1 part of a bank's capital consists mainly of its common stock, retained earnings and noncumulative preferred stock
Income available to common shareholders is operating income less preferred stock dividends declared for noncumulative preferred stock
. For a cumulative preferred stock, current-year dividends are deducted whether declared or not.
However, the court noted that a life estate in noncumulative preferred stock
that paid infrequent dividends might have no value.)
Noncumulative preferred stock
would offer no such assurance.
is redeeming, in whole, all $575.0 million aggregate liquidation preference of Depositary Shares representing interests in its 5.80% Noncumulative Preferred Stock
, Series C.
However, many estate freeze transactions involved the issuance of noncumulative preferred stock
. In the absence of a bona fide intention to pay the dividend on the preferred stock, an adjustment (decrease) in the value of the preferred stock was necessary.|10~
Nonqualified senior equity interests (e.g., noncumulative preferred stock
, most preferential partnership income and capital rights, and discretionary rights, such as a liquidation, put, call or conversion right) are generally valued at zero in determining the gift tax value of a transferred junior equity interest.