Brunswick issues a Series A $2.40 cumulative convertible preferred voting stock. What characteristics does this stock have?

The Series A $2.40 cumulative convertible preferred voting stock issued by Brunswick has specific characteristics that define its nature. This type of stock is convertible, meaning that shareholders have the option to convert their preferred shares into a predetermined number of common shares, providing the potential for capital appreciation if the value of the common stock increases.

Additionally, the term "cumulative" indicates that if any dividends are missed, they will accumulate and must be paid out to preferred shareholders before any dividends can be distributed to common shareholders. This gives some assurance regarding returns since holders of the cumulative preferred stock will eventually receive dividends due to this feature. The designation of "voting stock" further means that shareholders have voting rights, which is not commonly found in preferred stock, adding an element of influence in corporate decisions.

These characteristics underscore the flexibility and advantages that come with the stock, appealing to investors looking for both income through dividends and the opportunity for growth through conversion into common stock.