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Direct election of senators was instituted with the
Preferred Stock
A class of ownership in a corporation with a higher claim on assets and earnings than common stock, often paying fixed dividends.
Callable Preferred Stock
A type of preferred stock that gives the issuer the right to redeem the stock at a predetermined price after a certain date.
Convertible Preferred Stock
A type of preferred stock that gives the holder the option to convert it into a specified number of common stock shares, usually at any time after a predetermined date.
Cumulative Preferred Stock
A type of preferred stock where dividends accrue if not paid as scheduled, ensuring holders receive dividends in arrears before common stockholders get any.
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