ADJUSTABLE RATE PREFERRED Definition

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ADJUSTABLE RATE PREFERRED (ARP) is preferred stock issues in which dividends are reset quarterly either at a fixed spread or at a percentage of the highest of three benchmarks on the yield curve. Also known as floating­-rate preferreds.

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PERSONNEL is the department that maintains records of each individual's employment.

CAPITALIZATION FACTOR is any multiple or divisor used to convert anticipated benefits into value.

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