extraordinary dividend

extraordinary dividend
Dividend of corporation which is nonrepetitive and generally paid at irregular time because of some unusual corporate event (e.g. unusually high profits). An "extraordinary dividend" is distinguished from an "ordinary dividend" or "regular dividend" in that it is not declared from ordinary profits arising out of regular course of business of corporation and is generally declared by reasons of unusually large income or unexpected increment in capital assets due to fortuitous conditions or circumstances occurring outside of activities and control of corporation but advantageous to corporation either in stepping up its product and sales or in giving added value to its property. In re Bank of N. Y. & Fifth Ave. Bank, 105 N.Y.S.2d 211, 217, 222.
See also extra dividend.
Cash disbursements by "wasting asset" companies are apportioned as "extraordinary dividends" where they represent, in part at least, distribution of proceeds of capital assets

Black's law dictionary. . 1990.

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  • extraordinary dividend — ➔ dividend * * * extraordinary dividend UK US noun [C] ► FINANCE a payment that a company makes to its shareholders for a special reason in addition to its regular payments: »Shareholders will receive shares in the demerged company as an… …   Financial and business terms

  • extraordinary dividend — Dividend of corporation which is nonrepetitive and generally paid at irregular time because of some unusual corporate event (e.g. unusually high profits). An extraordinary dividend is distinguished from an ordinary dividend or regular dividend in …   Black's law dictionary

  • extraordinary dividend — see dividend Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • extraordinary dividend — See extra dividend …   Ballentine's law dictionary

  • dividend — div·i·dend / di və ˌdend/ n 1: the part of corporate net earnings distributed usu. periodically (as quarterly) to stockholders in the form of cash, additional shares, or property either as a set amount per share or a percentage of par value… …   Law dictionary

  • dividend — a distribution of the profits of a company among its members or shareholders. Glossary of Business Terms A portion of a company s profit paid to common shareholders and preferred shareholders. A stock selling for $20 a share with an annual… …   Financial and business terms

  • Dividend — A dividend is a portion of a company s profit paid to common and preferred shareholders. A stock selling for $20 a share with an annual dividend of $1 a share yields the investor 5%. The New York Times Financial Glossary * * * dividend div‧i‧dend …   Financial and business terms

  • extraordinary — Out of the ordinary; exceeding the usual, average, or normal measure or degree; beyond or out of the common order, method, or rule; not usual, regular, or of a customary kind; remarkable; uncommon; rare; employed for an exceptional purpose or on… …   Black's law dictionary

  • extraordinary — Out of the ordinary; exceeding the usual, average, or normal measure or degree; beyond or out of the common order, method, or rule; not usual, regular, or of a customary kind; remarkable; uncommon; rare; employed for an exceptional purpose or on… …   Black's law dictionary

  • dividend — A gain or profit. Hellmich v Hellman (CA8 Me) 18 F2d 239. A division into shares; one of such shares. A payment made by a corporation to its stockholders out of surplus earnings and under authority of a resolution by the board of directors which… …   Ballentine's law dictionary

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