What is a key difference between common shareholders and preferred shareholders?

Common shareholders have priority in receiving dividend payments, while preferred shareholders only receive dividends when the company records a profit.

Preferred shareholders typically have no voting rights, but they receive fixed dividend payments, whereas common shareholders have voting rights and receive variable dividends based on company performance.

Common shareholders receive fixed dividend payments, while preferred shareholders have the right to vote on company matters.

Preferred shareholders have higher risk exposure compared to common shareholders because their dividends depend entirely on the company's earnings.