Usually means: Favored or chosen above others.
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We found 23 dictionaries that define the word preferred:

General (18 matching dictionaries)
  1. preferred: Longman Dictionary of Contemporary English
  2. preferred: Merriam-Webster
  3. preferred: Collins English Dictionary
  4. preferred: Vocabulary.com
  5. Preferred, preferred: Wordnik
  6. preferred: Cambridge Advanced Learner's Dictionary
  7. preferred: Wiktionary
  8. preferred: Dictionary.com
  9. preferred: Cambridge Essential American English Dictionary
  10. Preferred: Wikipedia, the Free Encyclopedia
  11. Preferred: Online Plain Text English Dictionary
  12. preferred: Rhymezone
  13. Preferred: AllWords.com Multi-Lingual Dictionary
  14. preferred: Webster's 1828 Dictionary
  15. preferred: FreeDictionary.org
  16. preferred: Mnemonic Dictionary
  17. preferred: TheFreeDictionary.com
  18. preferred: Oxford Learner's Dictionaries

Business (3 matching dictionaries)
  1. preferred: Merriam-Webster Legal Dictionary
  2. preferred: Legal dictionary
  3. preferred: Financial dictionary

Computing (1 matching dictionary)
  1. preferred: Encyclopedia

Miscellaneous (1 matching dictionary)
  1. preferred: Idioms

(Note: See prefer as well.)

Definitions from Wiktionary (preferred)

adjective:  favoured
noun:  (finance) Preferred stock.

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