Which one of the following is a right of the preference shareholders of the company?

Both options 1 and 2

According to Section 43 of The Companies Act, 2013, a preference share is one, which fulfils the following conditions :
(a) That it carries a preferential right to dividend to be paid either as a fixed amount payable to preference shareholders or an amount calculated by a fixed rate of the nominal value of each share before any dividend is paid to the equity shareholders.
(b) That with respect to capital it carries or will carry, on the winding up of the company, the preferential right to the repayment of capital before anything is paid to equity shareholder