Examples of first preference in a sentence
The authorized share capital of Four Seasons consists of 3,725,698 Variable Multiple Voting Shares, an unlimited number of Limited Voting Shares, an unlimited number of First Preference Shares, issuable in series and an unlimited number of Second Preference Shares, issuable in series.
The Series A First Preference Shares shall not be convertible into all or any other shares or securities of the Company.
Also on June 1, 2020, the annual fixed dividend per share for the First Preference Shares, Series H was reset from $0.6250 to $0.45875 for the five-year period up to but excluding June 1, 2025.
Terms of the preferred share issuance are described below.The Series A First Preference Shares rank in priority to the Company’s common shares and are entitled to fixed cumulative preferential dividends at a rate of 7% per annum.
All Purchase Payments and Contract Values must be allocated to an asset allocation program sponsored by the Company while the Guaranteed Minimum Accumulation Benefit (GMAB) or Lifetime Income Rider (LIR) is in effect.