Which of the following statements is TRUE? Some preferred stocks are cumulative with respect to dividends, meaning that if a company skips a cash dividend, it must pay it at some point in the future. The par value for preferred stock, unlike bonds, is never paid back. Preferred stock usually has a stated or par value and, like bonds, this par value is not repaid at maturity because preferred stocks do not have a maturity date. A preferred stock's cash dividend due each year is based on the stated dividend rate times the market value of the stock.