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Webster 1828 Edition

pp.

Regarded above others; elevated in station.

preferred

preferred ‎(comparative more preferred, superlative most preferred)

favoured

preferred ‎(plural preferreds)

(finance) Preferred stock.
- 2008 March 30, Gretchen Morgenson, “If You Can’t Sell, Good Luck”, in New York Times:
  Naturally, closed-end funds’ common shareholders love the juice that auction-rate preferreds provide.