Preferred Shares definition:
A share in a company that has some kind of special right or privilege attached to it, such as that it is distinguished from the company's common shares.
Preferred shares
A share in a company having a special right or privilege attached to it, distinguishing it from the company's common shares.
" The benefits of being a shareholder include receiving dividends for each share as determined by the board of directors, the right to vote (except for certain preferred shares) for members of the board of directors, ...
Typically, common shares have voting rights and a pro rata right to any dividends declared. They differ from preferred shares which, by definition, carry some kind of right or privilege above the common shares (eg. first to receive any dividends).
: to exercise the right of conversion by exchanging (preferred shares or bonds) for common stock
2 : to appropriate (another's property) by conversion <the bailee ~ed the goods to his own use>
see also embezzle ...
 See also: Property, Share, Right, Action, Condition
  
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