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A program might be ineffective because the -------------
Par Value
The face value of a bond or stock as stated by the issuer, which does not necessarily reflect its market value.
Preferred Stock
A category of corporate ownership that ranks above common stock in terms of asset claims and earnings, usually providing fixed dividend payouts.
Guaranteed Dividend
A dividend that is promised to be paid to shareholders of a company out of future earnings or profit.
Noncumulative Preferred Stock
Noncumulative preferred stock is a type of preferred stock where missed dividend payments are not required to be paid back to the shareholder.
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