EXPLAIN any four types of Preference Shares along with its Salient Features.

Various types of Preference shares can be as below: Sl. No. Type of Preference Shares Salient Features 1 Cumulative Arrear Dividend will accumulate. 2 Non-cumulative No right to arrear dividend. 3 Redeemable Redemption should be done. 4 Participating Can participate in the surplus which remains after payment to equity shareholders. 5 Non-Participating Cannot participate in the surplus after payment of fixed rate of Dividend. 6 Convertible Option of converting into equity Shares.