After all, it's the common stockholders of Revco who took on more debt than they could handle.
By the end of a three-year period, the utility would be expected to pay about $2 a share for its common stockholders.
In 1953, control passed from the preferred stockholders to the common stockholders.
The preferred investors' interests are counter to those of common stockholders.
The main benefit to owning preferred stock is that the investor has a greater claim on the company's assets than common stockholders.
If the company gets into deep financial trouble, the Millers will also receive some preference over the common stockholders.
A preferred stock offering was given to common stockholders.
The stake of First City's common stockholders in the recapitalized company would fall to 1.3 percent.
He said that common stockholders and institutions "are worried about when they'll get what's due them, and they want this dispute to end soon."
Under the plan, dividend payments to common and preferred stockholders would be stopped.