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Finance Dictionary and Glossary of Investment Terms
Stock which does not provide the owner with the right to vote on corporate matters, such as the election of the board of directors. Preferred stock is usually nonvoting.
Stock that carries no power to vote on matters put before the shareholders. Preferred stock usually is nonvoting. Some classes of common stock, while not nonvoting, carries fewer votes than other classes, a system set up in some companies to keep control in the hands of family members or other insiders.