Business, Legal & Accounting Glossary
Preferred stock whose dividend changes, usually quarterly, according to changes in the Treasury Bill rate or a similar benchmark. The changes in the dividend are determined by a pre-set formula. Like floating rate debt, adjustable rate preferred stock tends to have stable prices, since the dividend amount can be can changed to offset price changes.
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This glossary post was last updated: 20th November, 2021 | 0 Views.