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What is the correct classification of the following reaction?
Dividends In Arrears
Dividends on preferred stock that have not been paid in the scheduled time but are owed to preferred shareholders.
Cumulative Preferred Shares
Cumulative Preferred Shares are a type of preferred stock where dividends accumulate if not paid out, ensuring shareholders are paid past dividends before common shareholders.
Cash Dividend
A payment made by a corporation to its shareholders, usually in the form of cash, as a share of the company's current earnings.
Declaration Date
The specific date on which a company's board of directors announces the issuance of a dividend.
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