21
II.5.2.1.
Saham Preferen (Preferred Stock)
Pengertian
Preferred
Stock
menurut
Investopedia
(www.businessdictionary.com) adalah :
“A class of ownership in a corporation that has a higher claim on the
assets and earnings than common stock. Preferred stock generally has
a dividend that must be paid out before dividends to common
stockholders
and
the
shares usually
do
not have
voting
rights.
The
precise details as to the structure of preferred stock is specific to each
corporation. However, the best way to think of preferred stock is as a
financial instrument that has characteristics of both debt (fixed
dividends) and equity (potential appreciation)
Pengertian tersebut dapat diterjemahkan sebagai berikut:
“suatu kepemilikan dalam perusahaan
yang
memiliki klaim lebih
tinggi
terhadap
asset
dan
pendapatan
dibandingkan common
stock.
Preferred stock
pada
umumnya
mendapatkan
dividen
yang
harus
dibayarkan
sebelum common
stockholders
dan
pada
umumnya
saham
tersebut
tidak
memiliki
hak
voting.
Pengaturan preferred
stock
yang
terperinci
tidaklah sama disetiap
perusahaan,
bagaimanapun
pengertian terbaik dari
preferred stock
adalah
sebuah
instrumen
finansial yang memiliki karakteristik dari utang (dividen tetap) dan
modal (berpotensi mengalami apresiasi)”
Menurut
Business
Dictionary
Preferred
Stock
adalah :
“Class of stock (shares) that pays fixed and regular interest income,
instead of a dividend
(whose payment and amount depends on factors
beyond stockholder's control). Holders of preferred stock have claim
over the firm's earnings (and assets in case of liquidation) ahead of
(senior to) the claim of holders of common stock (ordinary shares) but
behind (junior to) the claims of bondholders and all other creditors.
Depending on the terms of the agreement under which preferred stock
is issued, the degree of control of its holders over the firm's operations
ranges from none to the same as that of the holders of common stock.
Most preferred stock is cumulative;
common
stock
holders
cannot
receive
any
dividend until
all
the
unpaid
interest
owed
to preferred
stock holders is paid. For the issuing firm, preferred stock is an
uneasy
compromise
between
debt
and
equity,
and
is
seen
as
capital
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