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noncumulative

[non-kyoo-myuh-luh-tiv, -ley-tiv]
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adjective
  1. of or relating to preferred stock the dividends of which are skipped and not accrued.

Origin of noncumulative

First recorded in 1905–10; non- + cumulative
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018