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Definition of Non-cumulative

Non-cumulative Definition from Business & Finance Dictionaries & Glossaries
Campbell R. Harvey's Hypertextual Finance Glossary
Mainly applies to convertible securities. Type of preferred stock on which unpaid dividends do not accrue . Omitted dividends are, as a rule, gone forever.
Copyright © 2000, Campbell R. Harvey. All Rights Reserved.
Non-cumulative Definition from Sports Dictionaries & Glossaries
A revolving letter of credit that prohibits the amount not used during the specific period from being available afterwards.