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Tel. 780-429-6775
Fax. 780-424-0004
100, 10585 - 111 Street
Edmonton, Alberta  T5H 3E8

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Earnings or Income Statement

A financial statement which shows a company's revenues and expenditures resulting in either a profit or a loss during a financial period.

Earnings Per Share

The portion of net income for a period attributable to a single common share of a company.

Equipment Trust Certificate

A security, more common in the U.S.A. than in Canada, that is generally issued by a railroad or airline to pay for new moveable equipment. It is secured by a first lien on the equipment.

Equity or Shareholders' Equity

Ownership interest of common and preferred stockholders in a company. The difference between the assets and liabilities of a company which is sometimes called "net worth".

Escrowed or Pooled Shares

Outstanding shares of a company which, while entitled to vote and receive dividends, may not be bought or sold unless special approval is obtained. This technique is commonly used by mining and oil companies when treasury shares are issued for new properties. Shares can be released from escrow (i.e., freed to be bought and sold) only with the permission of applicable authorities such as a stock exchange and/or securities commission.

Ex Dividend or Rights

Without dividend or rights. The opposite of cum. (See Cum Dividend and Cum Rights.)

Exchange Fund Account

A special federal government account operated by the Bank of Canada to hold and conduct transactions in Canada's foreign exchange reserves on instructions from the Minister of Finance.

Exempt List

Large professional buyers of securities, mostly financial institutions, that are offered a portion of a new issue by one member of the banking group on behalf of the whole syndicate.

Exempt Market

An unregulated market for sophisticated participants in government bonds, corporate issues and commercial paper. Heretofore, a prospectus has not been required to raise money privately from private investors (largely institutions, but also individuals) and registration with a securities commission for those so dealing has not been needed.

Exempt Purchaser

A category of institutional investors to which the sale of a new issue of securities does not require the issuer to file a prospectus with the applicable securities commission.

Extendible Bond or Debenture

A bond or debenture with a stated maturity date which under specific conditions grants the holder the right to extend the maturity date by a specified number of years.


The short form of "extra dividend". A dividend in the form of stock or cash in addition to the regular common dividend the company has been paying.

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