Difference between common stock and preferred stock?

Difference between common stock and preferred stock?
Common stockholders generally are the only shareholders who are allowed to vote at shareholders' meetings, whereas preferred stockholders' shares generally convey no voting rights.

However, preferred stockholders have guaranteed dividend rights that common shareholders do not have. Common stockholders have no right to any dividends at all, unless and until the Board of Directors, at its sole discretion, declares a dividend on common stock. However, even if a common stock dividend is declared, it cannot be paid until the preferred stockholders get the dividends that they are due on their preferred shares - hence the name "preferred" stock.