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ACC 201 CH 11
Stockholders' Equity
| Term | Definition |
|---|---|
| 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 |
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