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1·Participating preferred stock entitles the holder to receive extra dividends when earnings permit.

—当赢利允许，参与优先股赋予持有人收取额外红利的权利。

2·Well, if there is participating preferred stock, then the VC will get an extra $1 million (which is based on the percentage of ownership).

哦，如果有参与分红的优先股，那么风投将额外得到1百万美元（基于其所有权比例）。