Final answer:
Except for voting rights, features such as being callable at the corporation's option, convertible into common stock, and preference regarding dividends are all associated with preferred stock. Preferred stockholders generally do not have the right to vote on corporate matters.
Step-by-step explanation:
In addressing the question of which features are not associated with preferred stock, it is important to understand the typical characteristics of this type of equity. Preferred stock often comes with special rights and features not found in common stock. First, it can be callable at the corporation's option, which means the issuing company can repurchase the stock at predetermined prices after a certain date.
Second, preferred stock may be convertible into common stock, allowing shareholders the option to change their preferred shares into a specified number of common shares. Third, they usually have preference as to dividends, which means that preferred shareholders receive dividends before common shareholders and often at a fixed rate. However, one feature that is typically not associated with preferred stock is voting rights. Regular preferred shares usually do not provide the right to vote on matters such as the election of the board of directors. Hence, the characteristic 'voting rights' is not a feature of preferred stock.