The Stock (finance) — the issue security giving to its owner the right to participation in steering by joint-stock company and the right to reception of a part of profit in the form of dividends.
1. Ordinary actions grant the right to participation in steering of a society (1 action corresponds to one voice at meeting of shareholders, except for carrying out of cumulative voting) and participate in distribution of profit of joint-stock company. A source of payment of dividends under ordinary actions is the society net profit. The size of dividends is defined by board of directors of the enterprise and it is recommended to general meeting of shareholders which can reduce only the size of dividends concerning recommended by board of directors.
2. Preference shares can bring restrictions on participation in steering, and also can grant the additional rights in steering (not necessarily), but bring constant dividends (often — fixed in the form of a certain share from accounting net profit or in absolute term of money). As a rule, in Russia there are considerable restrictions on participation in steering of the companies that is caused by that mass privatization of the enterprises according to 2 and 3 type provided drive of Preference shares to labor collective, thus disfranchising it at meetings of shareholders..
Dividends under preference shares can be paid both from profit, and from other sources — according to the society charter.
To the Admission to the auctions
For the admission to the auctions at an action stock exchange should undergo procedure of listing or to be admitted to the auctions without passage of procedure of listing.
Participation of the action in the auctions allows the emitter to involve the cheapest and most long-term capital, to raise company cost, to lower cost of loans, to hoist the prestige, to carry out additional advertizing through exchange ports and successfully to place the subsequent releases.
* Cumulative (accumulating). Privileges — the same. The obligation on payment of dividends remains and collects. The fixed term of accumulation of dividends. At nonpayment of dividends of a vote don't receive.
Categories of Stocks
Distinguish ordinary and preference shares1. Ordinary actions grant the right to participation in steering of a society (1 action corresponds to one voice at meeting of shareholders, except for carrying out of cumulative voting) and participate in distribution of profit of joint-stock company. A source of payment of dividends under ordinary actions is the society net profit. The size of dividends is defined by board of directors of the enterprise and it is recommended to general meeting of shareholders which can reduce only the size of dividends concerning recommended by board of directors.
2. Preference shares can bring restrictions on participation in steering, and also can grant the additional rights in steering (not necessarily), but bring constant dividends (often — fixed in the form of a certain share from accounting net profit or in absolute term of money). As a rule, in Russia there are considerable restrictions on participation in steering of the companies that is caused by that mass privatization of the enterprises according to 2 and 3 type provided drive of Preference shares to labor collective, thus disfranchising it at meetings of shareholders..
Dividends under preference shares can be paid both from profit, and from other sources — according to the society charter.
Analog of preference shares:
The action promotional (founders share) — the Action extended among founders of the joint-stock companies and giving to them some rights of priority. Holders of such actions can: to have additional quantity of voices at meeting of shareholders; to use the prime right to reception of actions in case of their subsequent emissions; to star in the decision of all questions connected with activity of the joint-stock companies.To the Admission to the auctions
For the admission to the auctions at an action stock exchange should undergo procedure of listing or to be admitted to the auctions without passage of procedure of listing.
Participation of the action in the auctions allows the emitter to involve the cheapest and most long-term capital, to raise company cost, to lower cost of loans, to hoist the prestige, to carry out additional advertizing through exchange ports and successfully to place the subsequent releases.
Preference shares On:
* Exclusive have a number of privileges in exchange for a vote. At their proprietor the size of the income at the moment of release and seating of securities is defined. The size of liquidating cost is defined. A priority at charge of these payments in relation to the ordinary.* Cumulative (accumulating). Privileges — the same. The obligation on payment of dividends remains and collects. The fixed term of accumulation of dividends. At nonpayment of dividends of a vote don't receive.
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