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

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glossary


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Near Banks

See Country Banks.

Negative Pledge Provision

A protective provision written into the trust deed of a company's debenture issue providing that no subsequent mortgage bond issue may be secured by all or part of the company's assets, unless at the same time the company's debentures are similarly secured.

Negotiable

A certificate that is transferable by delivery and which, in the case of a registered certificate, has been duly endorsed and guaranteed.

Net Asset Value

Total assets of a corporation less its liabilities.

Net Change

The change in the price of a security from the closing price on one day to the closing price on the following trading day. In the case of a stock which is entitled to a dividend one day, but is traded "ex-dividend" the next, the dividend is not considered in computing the change. The same applies to stock splits. A stock selling at $100 the day before a 2-for-1 split and trading the next day at $50 would be considered unchanged. The net change is ordinarily the last figure in a stock price list. The mark + 1 1/8 means up $1.125 a share from the last sale on the previous day the stock traded.

Net Earnings

That part of a company's profits remaining after all expenses and taxes have been paid and out of which dividends may be paid.

New Issue

An offering of stocks or bonds sold by a company for the first time. Proceeds may be used to retire outstanding securities of the company, to purchase fixed assets or for additional working capital. New debt issues are also offered by government bodies.

No Par Value (n.p.v.)

Indicates a common stock has no stated face value.

Non-Cumulative

A preferred dividend which does not accrue or accumulate if unpaid.

Note

An unsecured promise to pay.


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