West Virginia Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company

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Multi-State
Control #:
US-CC-3-136
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Word; 
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This sample form, a detailed Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
  • Preview Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company

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FAQ

The Article of Association of a company empowers the board to issue preference shares, setting certain terms and conditions. The maximum period for which the company can issue the preference should not exceed twenty years. That is such shares must be redeemed within that period.

Issuing preferred stock provides a company with a means of obtaining capital without increasing the company's overall level of outstanding debt. This helps keep the company's debt to equity (D/E) ratio, an important leverage measure for investors and analysts, at a lower, more attractive level.

The journal entry for issuing preferred stock is very similar to the one for common stock. This time Preferred Stock and Paid-in Capital in Excess of Par - Preferred Stock are credited instead of the accounts for common stock.

Yes, preferred stock is less risky than common stock because payments of interest or dividends on preferred stock are required to be paid before any payments to common shareholders. This means that preferred stock is senior to common stock.

Preferred stock is issued with a par value, often $25 per share, and dividends are then paid based on a percentage of that par. For example, if a preferred stock is issued with a par value of $25 and an 8 percent annual dividend, this means the dividend payment will be $2 per share.

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West Virginia Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company