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A stockbroker charging lower commissions than full-service brokers. Discount brokers do not give investment advice.

The holder of shares purchased ex rights is not entitled to already-declared rights, but is entitled to future rights issues.

Any day from Monday to Friday, excluding statutory holidays.

Options that can be exercised only on their expiration date.

The portion of the issuer’s equity paid directly to shareholders. It is generally paid on common or preferred shares. The issuer or its representative provides the amount, frequency (monthly, quarterly, semi-annually, or annually), payable date, and record date. The exchange that the issue is listed on sets the ex-dividend/distribution (ex-d) date for entitlement. An issuer is under no legal obligation to pay either preferred or common dividends.

Ex-dividend/distribution date. The date that the buyer of a stock is not entitled to the upcoming declared dividend/distribution, because the buyer will not be a holder of record. The ex-d date is two clearing days before the record date. The exchange that the issue is listed on sets the ex-d date.

The holder of shares purchased ex dividend is not entitled to an upcoming already-declared dividend, but is entitled to future dividends.

A trust that usually generates cash flows from one business or operating company, unlike an investment fund, which generates income from a diversified pool or portfolio. The trust holds debt and equity interests of an operating business. Businesses that exhibit these characteristics may opt for a trust structure over a corporate structure to take advantage of tax efficiency.

Total of 12-month’s dividends paid (historical or forecast) divided by the latest share price. 

The day after dividends are paid.