Each Year, Arnold Receives a Stated Amount of Dividend from the Earnings

Multiple Choice

Each year, Arnold receives a stated amount of dividend from the earnings of the company he has stocks in. In a particular period, if the company skips the dividend, then Arnold will receive the accumulated amount, that is, the dividend of that period plus the amount of the dividend the company skipped in the previous period. Based on the information given in the scenario, Arnold is most likely a holder of:

A) financial bond.
B) fidelity bond.
C) preferred stock.
D) common stock.