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ACC 201 CH 11

Stockholders' Equity

TermDefinition
authorized shares the maximum number of shares of capital stock of a corporation that can be issued, as specified in the charter
common stock the basic voting stock issued by a corporation to stockholders
cumulative dividend preference the preferred stock feature that requires current dividends not paid in full to accumulate for every year in which they are not paid. these cumulative unpaid amounts (called dividends in arrears) must be paid before any common dividends can be paid.
current dividend preference the feature of preferred stock that grants priority on preferred dividends over common dividends
declaration date the date on which the board of directors officially approves a dividend
dividends in arrears These cumulative unpaid amounts must be paid before any common dividends can be paid.
issued shares shares of stock that have been distributed by the corporation
no-par value stock capital stock that has no par value specified in the corporate charter
outstanding shares shares that are currently held by stockholders (not the corporation itself)
par value an insignificant value per share of capital stock specified in the charter
payment date the date on which a cash dividend is paid to the stockholders of record
preferred stock stock that has specified rights over common stock
record date the date on which the corporation prepares the list of current stockholders as shown on its records; dividends can be paid only to the stockholders who own stock on that date
stock dividend a dividend that distributes additional shares of a corporations own stock
stock split an increase in the total number of authorized shares by a specified ratio; does not affect retained earnings
treasury stock issued shares that have been reacquired by the company
Created by: 1143643238