The shares which do not carry any fixed rate of dividend are known as

The shares which do not carry any fixed rate of dividend are known as "ordinary shares". When a company issues ordinary shares, the shareholders who own them do not have any priority or preference over other shareholders in terms of receiving dividends or other payouts. Instead, their dividends are paid out of the company's profits, which are distributed among all shareholders according to the number of shares they own. The amount of dividend paid to ordinary shareholders can fluctuate depending on the company's financial performance, and there is no fixed rate of dividend. Ordinary shares are also called "common shares" or "equity shares".