GLOSSARY

XD

Meaning ex-dividend, this symbol often appears in the share pages of newspapers and indicates that a dividend has recently been announced for holders of that share. If you buy a share at an ex-dividend price, you will not receive the dividend as you were not the holder at the time the dividend was announced.

year-on-year

Compared to the same time period in the previous year

year-end bonus

Payment sometimes given to employees at the end of a year in which the employee and/or the company performed very well

yield

The yield is the dividend per share as a percentage of the value of that share. This is very simple. If each share is worth £1 and you get an annual dividend of 10 pence, the yield is 100p/10p = 10%.

zero-rated

If a supply is zero-rated this means that no tax is charged on the supply but credit is given to the supplier for all tax on his inputs relating to that supply.

zero dividend preference share

Part of a split capital investment trust which effectively means that they offer no income. Instead they offer a low risk opportunity for a predetermined amount of capital growth.

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