In cumulative preferred stocks, do you get paid by interest rates?

I would like to know how do you get your money when you buy cumulative preferred stocks, for example you buy 7000 cumulative preferred stocks of a company at the price of 25 dollars, so the overall cost is 175000 dollars. Now the interest rate of the preferred stock is 8.50%. My question is does this interest... show more I would like to know how do you get your money when you buy cumulative preferred stocks, for example you buy 7000 cumulative preferred stocks of a company at the price of 25 dollars, so the overall cost is 175000 dollars. Now the interest rate of the preferred stock is 8.50%.
My question is does this interest rate means annualy payment, by dividing it in 4, getting 2.125% every quarter?
Another question i have, is how do i get paid? Do i get paid by letting the company add that interest percent to the value of my stock, making it worth 25 dollars plus the annual interest rate? Or does the company transfering the money to my broker account every quarter?
2 answers 2