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Share Dealing - Types of Shares

 

Types of Shares - Share Dealing


About Types of Shares

Zero dividend preference shares (Zeros)
A zero has a target redemption value to be paid to shareholders on a set date in the future, as long as the Split has enough money; this redemption value is not guaranteed. In other words, the maximum redemption value is fixed but is paid only if stock market performance has been good enough. No dividends are paid to holders of Zeros.

Income Shares
Income shares pay dividends. That is, their holders share all the distributable income received by the Split (after any interest on borrowings) but Income Shares do not have any target level of return at redemption. The rate at which dividends are paid depends on investment performance.

Capital Shares
Capital shares do not pay an income or have a target redemption value. Their value will depend on how much money remains in the company after Zeros and Income shares have been redeemed and any borrowings repaid. (If there is insufficient money to pay the target redemption value to holders of Zeros, holders of Capital shares will receive nothing.)

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List of Online Share Dealers

 

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