The part of equity that carries fixed return is called

Preferred stock is a class of shares that provide fixed dividend to shareholders. Holders of preferred stock receive payment before common shareholders in case of liquidation. However they usually do not have voting rights. This type of stock combines features of equity and debt. For example investors who want steady income prefer preferred stock while those seeking higher returns with voting rights prefer common stock. Preferred stock is important for companies to raise funds while attracting investors with lower risk.