{"id":141,"date":"2026-08-15T18:16:00","date_gmt":"2026-08-15T16:16:00","guid":{"rendered":"https:\/\/www.zambiashares.com\/learn-investing\/?p=141"},"modified":"2026-08-15T18:21:43","modified_gmt":"2026-08-15T16:21:43","slug":"lesson-10-preference-shares-explained","status":"publish","type":"post","link":"https:\/\/www.zambiashares.com\/learn-investing\/lesson-10-preference-shares-explained\/","title":{"rendered":"Lesson 10 \u2014 Preference Shares Explained"},"content":{"rendered":"<style>\r\n.zs10-lesson {\r\n    max-width: 1100px;\r\n    margin: 30px auto;\r\n    font-family: Arial, Helvetica, sans-serif;\r\n    color: #374151;\r\n}\r\n\r\n.zs10-card {\r\n    background: #ffffff;\r\n    border: 1px solid #DDE5E0;\r\n    border-radius: 18px;\r\n    box-shadow: 0 5px 20px rgba(0,0,0,0.07);\r\n    overflow: hidden;\r\n}\r\n\r\n.zs10-header {\r\n    background: #008C3A;\r\n    color: #ffffff;\r\n    padding: 28px 35px;\r\n    text-align: center;\r\n}\r\n\r\n.zs10-header h2 {\r\n    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   text-align: center;\r\n    background: #F4FAF6;\r\n    border-radius: 15px;\r\n    padding: 35px;\r\n}\r\n\r\n.zs10-complete-icon {\r\n    font-size: 60px;\r\n    margin-bottom: 15px;\r\n}\r\n\r\n.zs10-complete h3 {\r\n    color: #008C3A;\r\n}\r\n\r\n@media (max-width: 700px) {\r\n\r\n    .zs10-lesson {\r\n        margin: 15px 8px;\r\n    }\r\n\r\n    .zs10-header {\r\n        padding: 23px 18px;\r\n    }\r\n\r\n    .zs10-header h2 {\r\n        font-size: 25px;\r\n    }\r\n\r\n    .zs10-slide {\r\n        padding: 30px 22px 25px;\r\n        min-height: 500px;\r\n    }\r\n\r\n    .zs10-slide h3 {\r\n        font-size: 23px;\r\n    }\r\n\r\n    .zs10-slide p,\r\n    .zs10-slide ul {\r\n        font-size: 16px;\r\n        line-height: 1.7;\r\n    }\r\n\r\n    .zs10-navigation {\r\n        padding: 16px;\r\n    }\r\n\r\n    .zs10-btn {\r\n        padding: 11px 17px;\r\n        font-size: 14px;\r\n    }\r\n\r\n    .zs10-flow {\r\n        flex-direction: column;\r\n    }\r\n\r\n    .zs10-arrow {\r\n        transform: rotate(90deg);\r\n    }\r\n\r\n    .zs10-compare {\r\n        font-size: 14px;\r\n    }\r\n\r\n    .zs10-compare th,\r\n    .zs10-compare td {\r\n        padding: 10px;\r\n    }\r\n}\r\n<\/style>\r\n\r\n\r\n<div class=\"zs10-lesson\">\r\n\r\n<div class=\"zs10-card\">\r\n\r\n<div class=\"zs10-header\">\r\n    <h2>Lesson 10: Preference Shares Explained<\/h2>\r\n    <p>Understand how preference shares differ from ordinary shares.<\/p>\r\n<\/div>\r\n\r\n<div class=\"zs10-progress\">\r\n    <div class=\"zs10-progress-bar\" id=\"zs10Progress\"><\/div>\r\n<\/div>\r\n\r\n\r\n<!-- 01 -->\r\n\r\n<div class=\"zs10-slide active\">\r\n\r\n<span class=\"zs10-number\">01 \/ 10<\/span>\r\n\r\n<h3>What Are Preference Shares?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-icon\">\ud83d\udcca \u2b50<\/div>\r\n\r\n<strong>\r\nPreference shares are a type of share with special rights or preferences.\r\n<\/strong>\r\n\r\n<\/div>\r\n\r\n<p>\r\nYou have already learned that a share represents an ownership interest\r\nin a company. But not every share has exactly the same rights.\r\n<\/p>\r\n\r\n<p>\r\nPreference shares are a type of share that can give investors certain\r\npreferential rights compared with ordinary shares.\r\n<\/p>\r\n\r\n<p>\r\nThese rights can relate to dividends, repayment of capital or other\r\nmatters, depending on the terms of the shares.\r\n<\/p>\r\n\r\n<div class=\"zs10-highlight\">\r\n<strong>Simple idea:<\/strong> Preference shares are shares that come\r\nwith specific preferential terms.\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 02 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">02 \/ 10<\/span>\r\n\r\n<h3>Why Are They Called \u201cPreference\u201d Shares?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-flow\">\r\n\r\n<div class=\"zs10-box\">\ud83c\udfe2 Company<\/div>\r\n\r\n<div class=\"zs10-arrow\">\u2192<\/div>\r\n\r\n<div class=\"zs10-box\">\u2b50 Preference<\/div>\r\n\r\n<div class=\"zs10-arrow\">\u2192<\/div>\r\n\r\n<div class=\"zs10-box\">\ud83d\udc64 Investor<\/div>\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n<p>\r\nThe word <strong>preference<\/strong> means that these shares can have\r\ncertain rights that receive priority over ordinary shares in specified\r\nsituations.\r\n<\/p>\r\n\r\n<p>\r\nFor example, a preference share may have a right to receive a stated\r\ndividend before a dividend is paid on ordinary shares, depending on\r\nthe terms of the issue.\r\n<\/p>\r\n\r\n<p>\r\nPreference can also apply to the return of capital if a company is\r\nwound up, subject to the applicable terms and law.\r\n<\/p>\r\n\r\n<div class=\"zs10-tip\">\r\nThe exact rights of preference shares depend on their terms. Always\r\nread the company's official information before investing.\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 03 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">03 \/ 10<\/span>\r\n\r\n<h3>Preference Shares vs Ordinary Shares<\/h3>\r\n\r\n<table class=\"zs10-compare\">\r\n\r\n<tr>\r\n<th>Preference Shares<\/th>\r\n<th>Ordinary Shares<\/th>\r\n<\/tr>\r\n\r\n<tr>\r\n<td>\r\nMay have preferential rights to dividends.\r\n<\/td>\r\n\r\n<td>\r\nUsually receive dividends after any applicable preference rights.\r\n<\/td>\r\n<\/tr>\r\n\r\n<tr>\r\n<td>\r\nMay have priority regarding return of capital.\r\n<\/td>\r\n\r\n<td>\r\nUsually rank behind preference shares for return of capital.\r\n<\/td>\r\n<\/tr>\r\n\r\n<tr>\r\n<td>\r\nVoting rights may be limited or subject to specific conditions.\r\n<\/td>\r\n\r\n<td>\r\nOrdinary shares commonly carry voting rights, subject to the company's\r\nrules and applicable law.\r\n<\/td>\r\n<\/tr>\r\n\r\n<tr>\r\n<td>\r\nTerms can be more specific and may include special conditions.\r\n<\/td>\r\n\r\n<td>\r\nUsually represent the standard form of equity ownership.\r\n<\/td>\r\n<\/tr>\r\n\r\n<\/table>\r\n\r\n<div class=\"zs10-highlight\">\r\nThere is no simple rule that one type is always better. The right choice\r\ndepends on the investor's goals and the specific terms of the shares.\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 04 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">04 \/ 10<\/span>\r\n\r\n<h3>How Can Preference Dividends Work?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-icon\">\ud83c\udfe2 \u2192 \ud83d\udcb0 \u2192 \u2b50<\/div>\r\n\r\n<strong>\r\nCompany \u2192 Dividend \u2192 Preference shareholders\r\n<\/strong>\r\n\r\n<\/div>\r\n\r\n<p>\r\nSome preference shares have a stated dividend rate or amount.\r\nFor example, imagine preference shares with a stated dividend of\r\nK5 per share per year.\r\n<\/p>\r\n\r\n<div class=\"zs10-example\">\r\n\r\n<h4>Simple Example<\/h4>\r\n\r\n<p>\r\nYou own 1,000 preference shares.\r\n<\/p>\r\n\r\n<p>\r\nThe stated dividend is K5 per share.\r\n<\/p>\r\n\r\n<p>\r\nIf the company declares the applicable dividend, the amount would be:\r\n<\/p>\r\n\r\n<p>\r\n<strong>1,000 \u00d7 K5 = K5,000<\/strong>\r\n<\/p>\r\n\r\n<\/div>\r\n\r\n<p>\r\nThis is only an example. The actual dividend depends on the terms of\r\nthe particular preference shares and whether the relevant dividend\r\nis declared and payable.\r\n<\/p>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 05 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">05 \/ 10<\/span>\r\n\r\n<h3>Are Preference Dividends Guaranteed?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-icon\">\ud83d\udcb0 \u2753<\/div>\r\n\r\n<strong>A stated dividend does not automatically mean guaranteed income.<\/strong>\r\n\r\n<\/div>\r\n\r\n<p>\r\nThis is very important for a beginner to understand.\r\nPreference shares may have a stated dividend, but investors should\r\nnot automatically assume that every payment is guaranteed.\r\n<\/p>\r\n\r\n<p>\r\nThe actual rights depend on whether the shares are cumulative or\r\nnon-cumulative and on the specific terms of the issue.\r\n<\/p>\r\n\r\n<p>\r\nThe financial position of the company and the applicable legal and\r\ncontractual requirements also matter.\r\n<\/p>\r\n\r\n<div class=\"zs10-highlight\">\r\n<strong>Never treat a share dividend as the same as guaranteed bank interest.<\/strong>\r\n<\/div>\r\n\r\n<p>\r\nBefore buying preference shares, read the official terms carefully\r\nand understand when and how dividends can be paid.\r\n<\/p>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 06 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">06 \/ 10<\/span>\r\n\r\n<h3>What Does \u201cCumulative\u201d Mean?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-flow\">\r\n\r\n<div class=\"zs10-box\">Year 1<br>Dividend unpaid<\/div>\r\n\r\n<div class=\"zs10-arrow\">\u2192<\/div>\r\n\r\n<div class=\"zs10-box\">Year 2<br>Possible accumulation<\/div>\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n<p>\r\nSome preference shares are called <strong>cumulative preference shares<\/strong>.\r\n<\/p>\r\n\r\n<p>\r\nIf a dividend that qualifies as cumulative is not paid when due,\r\nthe unpaid amount can generally accumulate and may need to be paid\r\nbefore ordinary shareholders receive dividends, subject to the terms\r\nof the shares and applicable rules.\r\n<\/p>\r\n\r\n<p>\r\nFor example, if a cumulative preference share has a K2 annual dividend\r\nand the relevant dividend is missed for one year, that unpaid amount\r\nmay remain due according to the terms.\r\n<\/p>\r\n\r\n<div class=\"zs10-tip\">\r\nCumulative does not mean the company can never have financial problems.\r\nIt means the unpaid preference dividend can carry forward according\r\nto the terms.\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 07 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">07 \/ 10<\/span>\r\n\r\n<h3>What Does \u201cNon-Cumulative\u201d Mean?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-flow\">\r\n\r\n<div class=\"zs10-box\">Dividend not paid<\/div>\r\n\r\n<div class=\"zs10-arrow\">\u2192<\/div>\r\n\r\n<div class=\"zs10-box\">Usually does not build up<\/div>\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n<p>\r\nSome preference shares are <strong>non-cumulative<\/strong>.\r\n<\/p>\r\n\r\n<p>\r\nWith non-cumulative preference shares, if the dividend is not declared\r\nor paid for a particular period, the unpaid dividend generally does\r\nnot accumulate for future payment, depending on the terms.\r\n<\/p>\r\n\r\n<p>\r\nThis means an investor needs to understand exactly what type of\r\npreference share they are considering.\r\n<\/p>\r\n\r\n<div class=\"zs10-highlight\">\r\n<strong>Cumulative:<\/strong> unpaid qualifying dividends may accumulate.<br><br>\r\n<strong>Non-cumulative:<\/strong> unpaid dividends generally do not accumulate.\r\n<\/div>\r\n\r\n<p>\r\nAlways check the official terms because the exact rights can differ\r\nbetween issues.\r\n<\/p>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 08 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">08 \/ 10<\/span>\r\n\r\n<h3>Do Preference Shareholders Always Have Voting Rights?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-icon\">\ud83d\uddf3\ufe0f \u2b50<\/div>\r\n\r\n<strong>\r\nVoting rights can be different from ordinary shares.\r\n<\/strong>\r\n\r\n<\/div>\r\n\r\n<p>\r\nPreference shareholders may have limited voting rights or voting rights\r\nthat apply only in certain circumstances.\r\n<\/p>\r\n\r\n<p>\r\nThis is one important difference between some preference shares and\r\nordinary shares.\r\n<\/p>\r\n\r\n<p>\r\nThe exact voting rights depend on the type of preference share,\r\nthe company's rules and applicable law.\r\n<\/p>\r\n\r\n<div class=\"zs10-tip\">\r\nDo not assume that all shareholders have exactly the same voting rights.\r\nAlways check the terms attached to the shares.\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 09 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">09 \/ 10<\/span>\r\n\r\n<h3>What Should a Zambian Investor Check?<\/h3>\r\n\r\n<div class=\"zs10-visual\">\r\n\r\n<div class=\"zs10-icon\">\ud83d\udd0e \ud83d\udcc4 \ud83d\udcca<\/div>\r\n\r\n<strong>\r\nUnderstand the terms before investing.\r\n<\/strong>\r\n\r\n<\/div>\r\n\r\n<ul>\r\n\r\n<li>What dividend rate or amount applies?<\/li>\r\n\r\n<li>Is the dividend cumulative or non-cumulative?<\/li>\r\n\r\n<li>Are there voting rights?<\/li>\r\n\r\n<li>What happens if the company does not pay the dividend?<\/li>\r\n\r\n<li>What is the ranking for repayment of capital?<\/li>\r\n\r\n<li>Can the shares be redeemed or converted?<\/li>\r\n\r\n<li>What fees or costs apply?<\/li>\r\n\r\n<li>What are the risks?<\/li>\r\n\r\n<\/ul>\r\n\r\n<div class=\"zs10-highlight\">\r\n<strong>Golden rule:<\/strong> Never buy preference shares simply because\r\nthe word \u201cpreference\u201d sounds safer. Understand the actual terms first.\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<!-- 10 -->\r\n\r\n<div class=\"zs10-slide\">\r\n\r\n<span class=\"zs10-number\">10 \/ 10<\/span>\r\n\r\n<div class=\"zs10-complete\">\r\n\r\n<div class=\"zs10-complete-icon\">\ud83c\udf93<\/div>\r\n\r\n<h3>Lesson Complete!<\/h3>\r\n\r\n<p>\r\nWell done! You now understand the basic idea behind preference shares.\r\n<\/p>\r\n\r\n<p>\r\nYou have learned that preference shares can have special rights,\r\nincluding preferential treatment for dividends or return of capital,\r\ndepending on their terms.\r\n<\/p>\r\n\r\n<div class=\"zs10-tip\">\r\n\r\n<strong>Remember:<\/strong><br><br>\r\n\r\nPreference shares are not simply \u201cbetter shares\u201d.\r\nThey have different rights and conditions.\r\n\r\nBefore investing, understand the specific terms, dividend rules,\r\nvoting rights, risks and repayment arrangements.\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<div class=\"zs10-navigation\">\r\n\r\n<button type=\"button\" class=\"zs10-btn zs10-prev\" id=\"zs10Prev\">\r\n\u2190 Previous\r\n<\/button>\r\n\r\n<div class=\"zs10-counter\" id=\"zs10Counter\">\r\n1 \/ 10\r\n<\/div>\r\n\r\n<button type=\"button\" class=\"zs10-btn zs10-next\" id=\"zs10Next\">\r\nNext \u2192\r\n<\/button>\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<script>\r\n(function() {\r\n\r\n    const lesson = document.querySelector('.zs10-lesson');\r\n\r\n    if (!lesson) return;\r\n\r\n    const slides = lesson.querySelectorAll('.zs10-slide');\r\n    const nextButton = lesson.querySelector('#zs10Next');\r\n    const prevButton = lesson.querySelector('#zs10Prev');\r\n    const counter = lesson.querySelector('#zs10Counter');\r\n    const progress = lesson.querySelector('#zs10Progress');\r\n\r\n    let current = 0;\r\n\r\n    function showSlide(number) {\r\n\r\n        slides.forEach(function(slide, index) {\r\n\r\n            slide.classList.toggle(\r\n                'active',\r\n                index === number\r\n            );\r\n\r\n        });\r\n\r\n        counter.textContent =\r\n            (number + 1) + ' \/ ' + slides.length;\r\n\r\n        progress.style.width =\r\n            (((number + 1) \/ slides.length) * 100) + '%';\r\n\r\n        prevButton.style.visibility =\r\n            number === 0 ? 'hidden' : 'visible';\r\n\r\n        if (number === slides.length - 1) {\r\n            nextButton.style.display = 'none';\r\n        } else {\r\n            nextButton.style.display = 'block';\r\n        }\r\n\r\n        lesson.scrollIntoView({\r\n            behavior: 'smooth',\r\n            block: 'start'\r\n        });\r\n    }\r\n\r\n    nextButton.addEventListener('click', function() {\r\n\r\n        if (current < slides.length - 1) {\r\n            current++;\r\n            showSlide(current);\r\n        }\r\n\r\n    });\r\n\r\n    prevButton.addEventListener('click', function() {\r\n\r\n        if (current > 0) {\r\n            current--;\r\n            showSlide(current);\r\n        }\r\n\r\n    });\r\n\r\n    showSlide(current);\r\n\r\n})();\r\n<\/script>\n<p style=\"text-align: justify;\">Not all shares are exactly the same. In the previous lessons, you learned about ordinary shares and how becoming a shareholder means owning an interest in a company. In this lesson, we introduce another type of share called a <strong>preference share<\/strong>.<\/p>\n<p style=\"text-align: justify;\">Preference <a href=\"https:\/\/www.zambiashares.com\/learn-investing\/lesson-6-what-is-a-share\/\">shares<\/a> are shares that can have special rights or preferential treatment compared with ordinary shares. These rights can relate to dividends, repayment of capital, voting rights or other conditions set out when the shares are issued.<\/p>\n<p style=\"text-align: justify;\">For example, a preference share may have a stated dividend rate. This can make preference shares look attractive to an investor who is interested in potential income. However, it is important to understand that a stated dividend does not automatically mean guaranteed income. The exact terms of the shares determine how and when dividends are payable.<\/p>\n<p style=\"text-align: justify;\">Preference shares can also be <strong>cumulative<\/strong> or <strong>non-cumulative<\/strong>. With cumulative preference shares, qualifying unpaid dividends may accumulate according to the terms. With non-cumulative preference shares, unpaid dividends generally do not accumulate.<\/p>\n<p style=\"text-align: justify;\">Another important point is that preference shareholders may have different voting rights from ordinary shareholders. Some preference shares may have limited voting rights or voting rights that apply only in certain situations.<\/p>\n<p style=\"text-align: justify;\">For a beginner in Zambia, the main lesson is simple: <strong>never buy an investment just because it sounds attractive<\/strong>. Before buying preference shares, understand the dividend terms, voting rights, repayment priority, risks and other conditions attached to the shares.<\/p>\n<p style=\"text-align: justify;\">By the end of this lesson, you should understand why preference shares are different from ordinary shares and what you should check before considering them as an investment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not all shares are exactly the same. In the previous lessons, you learned about ordinary shares and how becoming a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_theme","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-141","post","type-post","status-publish","format-standard","hentry","category-understanding-shares"],"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"ZambiaShares.com","author_link":"https:\/\/www.zambiashares.com\/learn-investing\/author\/invstzmadmin\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/www.zambiashares.com\/learn-investing\/category\/stock-market-learning\/understanding-shares\/\" rel=\"category tag\">Understanding Shares<\/a>","rttpg_excerpt":"Not all shares are exactly the same. In the previous lessons, you learned about ordinary shares and how becoming a [&hellip;]","_links":{"self":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/posts\/141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/comments?post=141"}],"version-history":[{"count":0,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/posts\/141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/media?parent=141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/categories?post=141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/tags?post=141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}