Which of the following statements related to preferred stock is correct?
A. Preferred shareholders normally receive one vote per share of stock owned.
B. Preferred shareholders determine the outcome of any election that involves a proxy fight.
C. Preferred shareholders are considered to be the residual owners of a corporation.
D. Preferred stock has a pre-determined stated liquidating value per share.
E. The board of directors can decide not to pay the dividends on preferred shares but to pay a small dividend on common shares in a given year.