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Investopedia explains 'M'
Preferred shares give holders a class of ownership that has a higher claim on assets and earnings than holders of the company's common stock. Dividends for preferred shares are paid out before dividends to common stockholders.
However, preferred shareholders generally do not have any voting rights. Dividends for preferred shares are fixed; that is, they do not fluctuate like the dividends for the company's common shares. Nasdaq symbols utilize other fifth-letter identifiers such as "A" for class A shares; "B" for class B shares, "C" for issuer qualification exception; "D" for new issue; "E" for delinquent.
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