PAYDOWN Definition

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PAYDOWN is the systematic reduction in principal of a mortgage- or asset-backed security resulting in a series of principal payments, either scheduled or unscheduled.

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EOQ is Economic Order Quantity.

DIVIDEND DATE: The payment date remains the same over the life of the issue, but the board of directors must approve or declare each individual payment. On the date that a board declares a dividend, it also sets a record date and ex-dividend (without dividend) date.

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