61. What is a distinguishing characteristic attributable to preferred shares? a. They include a right to vote. b. They must state “nonvoting” on the share certificate itself. c. They have a preferential right in the distribution of proceeds on dissolution. d. They do not usually share in dividends.

1. What is a distinguishing characteristic attributable to preferred shares
2. They have a preferential right in the distribution of proceeds on dissolution.

Preferred shares have preferential right of distribution of proceeds when the company is dissolved or declared bankrupt. Company's stock with dividends are paid out to the shareholders of preferred shares before common stock dividends are issues.