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An exchange-traded, fixed income-like instrument consisting of a subordinated debt security and a share of common stock packaged together to form a tax-efficient delivery mechanism to distribute an issuer’s free cash flow to its investors. Investors are paid dividends from the common share component and interest from the subordinated debt.

Number of shares outstanding including options granted but not yet exercised.

A company estimates the future profitability of a trade made today and books a profit today based on the present value of those estimated future profits.

A feature of Market On Close (MOC), a TSX electronic call market facility, the Indicative Calculated Closing Price (ICCP) provides a preliminary indication of what the calculated closing price for a MOC security would be assuming the regular trading session had ended at the time of calculation. The ICCP is calculated without reference to volatility parameters. The ICCP for each MOC security will be broadcast to the trading community at 3:50 PM ET on each trading day, 10 minutes prior to the actual Market On Close execution. A key objective of broadcasting the ICCP is to provide market participants with an early indication of potentially large price movements at the close. The ICCP for all MOC securities will be included in the MOC Imbalance Report that is made available on tmxmoney.com.

Stock trading tracked in periods shorter than one day.

See Operating Income.

Growth at a reasonable price. A strategy of buying stocks whose price/earnings ratio is equal to or less than the estimated annual earnings growth rate.

Analyzing stocks by looking at earnings, sales, profit margins, etc. 

Companies with consistent annual earnings and sales growth of at least 15%. 

A disclosure document submitted by a listed company to outline material changes in its affairs. Filing statements are not used for the purposes of a financing.