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Preference means they get their dividends first (and ordinary shareholders dividend depends on what is left).
$1 is the nominal (par) value of the shares.
5% means they get a fixed dividend of 5% of nominal value (i.e. $0.05 per year)
Redeemable means they will be repaid in 2009.Have you not watched my free lectures? The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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