What is the advantage of preferred stock if the company does not pay dividends?

I know that the differences between common stock and preferred stock is that there are no voting rights with preferred stock and that they get dividends paid to them before common stock owners.





However, not all companies must pay dividends, so then what is the advantage?|||I don't see any advantages either. However, I was not aware that some companies MUST pay dividends (do you have an example?) - I believe that ALL companies have the discretion to either pay or not pay dividends. I've never heard of companies being REQUIRED to pay dividends. However, many companies do pay dividends regularly (whether they can really afford to or not) to attract investors who like stocks that always pay dividends (no matter how small).


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I personally don't put that much emphasis on dividends in my stock purchasing activities.