Tick

Slang used for minimum spread. Depending on the stock price it could be a half-cent, one cent or five cents.

Income Stock

A security with a solid record of dividend payments and which offers a dividend yield higher than the average common stock.

Pay Date

With respect to stocks split or dividends, a pay date is the date that a company pays a dividend or stock split out, which is usually the day before the ex-dividend date.

Income Trust

Also called income funds. Income trusts are trusts structured to own debt and equity of an underlying entity, which carries on an active business, or has royalty revenues generated by the assets of an active business. By owning securities or assets of an underlying business, an income trust is structured to distribute cash flows, typically on a monthly basis, from those businesses to unit holders in a tax-efficient manner. The trust structure is typically utilized by mature, stable, sustainable, cash-generating businesses that require a limited amount of maintenance capital expenditures. An income trust is an exchange-traded equity investment that is similar to a common share. There are four categories of income trusts: business trusts; real estate investment trusts (REITs); energy trusts; and power, pipeline, and utility trusts.

Ticker Tape

Each time a stock is bought and sold, it is displayed on an electronic ticker tape. It is a record of current trading activity on an exchange.