Maturity
Most preferred stocks have no maturity date, and dividends are meant to be paid as long as the company is in business (perpetual preferred stock). Preferred stock with delayed perpetuity will defer the first dividend payment to some future year after issuance but continue payments into perpetuity.
Sometimes, a company will issue term preferred stock, in which it will repay the par value of the stock in cash or in common shares at a set maturity date of, say, ten years. Term preferred stock may include a sinking fund provision, requiring the corporation to set aside funds for the orderly or eventual redemption of its outstanding securities. A sinking f