Definition of "noncumulative" [noncumulative]

• Not cumulative. (adjective)
• Not having an accumulating right to receive dividends unpaid in previous periods. (adjective)

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• "In a smaller number of contracts in which the Treasury got so-called noncumulative preferred stock, the bank can skip dividend payments without penalty."
• ""noncumulative" -- meaning that the company can skip dividend payments without the obligation to make up the difference later."
• "Fannie and Freddie's response to their capital crises was to issue a ton of new "noncumulative preferred stock" -- a somewhat arcane security that, along with common stock, qualifies as "core" capital."