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15 Cards in this Set
- Front
- Back
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STOCK CLASSIFICATIONS
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Authorized: # of shares a corp. is permitted to issue.
Issued: has been sold to public. Treasury: repurchased by corp.,no voting,no dividends,can't be traded on open market. Outstanding: # of shares held by public. Treasury= issued-outstanding Outstanding= issued-treasury |
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STOCK VALUATIONS
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Par: assigned accounting value.
Book: liquidation or net worth value. Market: value determined by supply & demand. |
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PREEMPTIVE RIGHTS
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Allow shareholders to maintain proportionate interest.
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VOTING RIGHTS
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Directors, issuance of convertible bonds or preferred stock; NOT on dividend payment or amount.
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STOCK SPLITS
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Forward: more shares, less value per share, same total value as before and after.
Reverse: less shares, more value per share, same total value as before and after. |
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PREFERRED STOCK
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Par value=$100
Stated (fixed) dividend rate. Priority over common stock in liquidation & dividend payment. Typically no voting rights. |
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CURRENT YIELD
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Annual dividends divided by current price.
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RIGHTS
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30-45 day duration.
exercise price is below market on issuance. Trade as a seperate security. Available to existing shareholders only. One right per share outstanding. |
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WARRENTS
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Long term.
Exercise price above market when issued. trade as a seperate security. Offered as sweetners. |
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ADRs
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No preemptive rights.
Dividend in dollars. No voting rights. |
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REITs
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Not a limited partnership.
Not an investment company. Pass through income, not losses. 75% of income must come from real estate. Must distribute 90% or more of income to shareholders to avoid taxation as a trust. Trade on exchanges or OTC. |
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DIVIDENDS
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Ex-date 2 business days prior to record date.
Ex-date set by NASD or Exchange. Price of stock reduced at the opening by the amount of the dividend. |
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MATURITIES
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Term: matures at 1 date in the future.
Serial: matures over a period of years; Balloons: large lump payment at end;Series: spread out issue, not maturity. |
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INVESTMENT GRADE
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Baa or BBB and above; based on default risk; ability to pay interest & principal when due.
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CALL FEATURE
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Called by issuer when interest rates are falling; no interest after call.
Issuer cannot call during call protection period. |
