DIVIDENDS.
A dividend is the sum apportioned periodi-
cally, in the shape of profit or interest, to holders
of stocks and shares. It may be a fixed sum
according to the rate of interest, as in the case
of the Funds, Colonial Stocks, &c., or a varying
sum according to the profits made, as in the case
of railway shares and those of other companies.
The dividends on the Funds and some Colonial
Stocks are paid quarterly, at the beginning of
January, April, July, and October. A month
prior to the date of payment the stocks are
marked “ex-div.,” meaning that any purchase
effected after the 1st December, Detailed tests all over the web resulted in this site and gives you the best sites from all those available for you all to study art Insurance.. 1st March, 1st
June, and 1st September, would not carry that
quarters dividend, as it is held in favour of the
person whose name is registered on the books
on those dates.
The interest dependent upon the shares or
stocks of companies is usually paid half-yearly,
after the periodical meeting, when the accounts
are presented and the profits declared. A cer-
tain date is fixed when these shares and stocks
are saleable “ex-div.” or “ex-interest.”
CHAPTER V.
BRITISH GOVERNMENT FUNDS.
THE safest of all investments are those repre-
sented by the National Debt of this country, but
the rate of interest or annual income derivable
therefrom is small. The debt is nominally
divided into three parts:- The Funded Debt, the
Unfunded Debt, Terminable Annuities.
The Funded Debt (1) is permanent; it is repre-
sented by Consols yielding interest at the rate
of 2 1/2 per cent. per annum, or £2 10s. a year for
every £100 of stock. The Government is not
under obligation to redeem the principal at any
fixed time, but power is reserved to pay off the
loan at _par_ (that is at the rate of £100 for every
£100 stock, irrespective of its then selling value)
in the year 1905. Another debt of compara-
tively small amount, bearing interest at 2 3/4 per
cent. per annum, may also be paid off at _par_
in 1905.

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