“deferred stock”也叫deferred share，延期付息股票；后派息股，指载明推迟支付股息的股票。即只有当其他某种类型的股票获得股息分派之后，或者公司的某项责任或债务履行之后才给予支付股息的股票种类。在这个意义上，相对于优先股preferred stock来说，普通股common stock也是延期付息股票，在只有普通股和优先股时，延期付息股票即指普通股。当优先股、普通股和延期付息股票并存时，后者只能在前二者的股息已经支付后才可分配股息。延期付息股票多见于英国，在美国则极少见。

其英文释义如下：

A deferred share is a share that does not have any rights to the assets of a company undergoing bankruptcy until all common and preferred shareholders are paid. It may also be a share that is issued to company founders that restricts their receipt of dividends until dividends have been distributed to all other classes of shareholders. Deferred shares can also be awarded to venture capital and other private investor groups as part of a long-term investment in a company.

与之相类似的还有deferred interest bonds延期付息债券；递延付息债券，指延期支付利息的债券。例如，零息票债券zero-coupon bond实际上就属于延期付息债券，它在到期后将本金及其与面值之间的差价全部支付，这一差价实为一种利息收入。

以下为相关示例，供参考：

The deferred shares, which are not held by the Group, practically carry no rights to dividend or to receive notice of or to attend or vote at any general meeting of respective subsidiaries or to participate in any distribution on a winding-up.

该等递延股份并非由本集团持有，基本上并不附有获派股息或接获有关附属公司任何股东大会之通告或出席该等大会或于会上投票之权利，于清盘时亦无权参予任何分派。

Employees accepted an award of deferred stock, releasable over the next three years and subject to certain conditions。

员工接受了作为奖金的递延付息股票，该奖金在未来三年内逐步兑现，并取决于相关业绩指标的达成。