STATUTE Definition

STATUTE is an act passed by a legislative body, e.g. U.S. Congress.

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O as the fifth letter in a Nasdaq stock symbol indicates that the issue is second class of preferred shares in the company.

LIQUIDATING DIVIDENDS are dividends paid by a corporation that is in the process of liquidation/bankruptcy. Liquidating Dividends are paid from the capital of the corporation as opposed to earnings. Recipients of Liquidating Dividends are typically shareholders, bond holders and/or creditors. In the U.S. such dividends are generally nontaxable under the Internal Revenue Code.

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