Copy of `AngloAmerican - Shareholders glossary`
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AngloAmerican - Shareholders glossary
Category: Economy and Finance > Shareholders
Date & country: 21/09/2007, UK
Is the condition in which the spot price of a commodity exceeds the price of a future.
Is the analysis of the level of sales at which a project would just break even. This may or may not include opportunity cost of capital.
Are all those costs, whether fixed or variable, that are actually incurred as cash, rather than as entries in a ledger (e.g. depreciation) when production is proceeding.
Is a bond that may be converted into another security at the holder's option. Similarly convertible preferred stock.
Means with dividend
Means with rights
Is an asset that will normally be turned into cash within a year.
Is the liability that will normally be repaid within a year.
Is the reduction in the book or market value of an asset; or the portion of an investment that can be deducted from taxable income.
Is the rate used to calculate the present value of future cash flows.
Discounted cash flow (DCF)
Is when future cash flows are multiplied by discount factors to obtain a present value.
Is the payment by a company to its stockholders.
Is the annual dividend divided by share price.
Is the agreement between two countries that taxes paid abroad can be offset against domestic taxes levied on foreign dividends
Is earnings before interest, tax, depreciation and amortisation.
Is the market capitalisation plus net debt (debt less cash and cash equivalents).
Is the earnings per share. This is calculated by dividing the profit by the number of shares.
Is the purchase of shares in which the buyer is not entitled to the forthcoming dividend.
Are the in/out flow of cash on a one-off basis.
Is the purchase or sale of forward foreign currency in order to offset a known future cash flow.
Free cash flow
Is cash not required for operations or for reinvestment.
Is buying one security and selling another in order to reduce risk. A perfect hedge produces a riskless portfolio.
Is the minimum acceptable rate of return on a project.
Is the times interest is earned.
Is the London interbank offered rate.
Is the number of shares multiplied by the share price.
Net present value (NPV)
A project's net contribution to wealth - present value minus initial investment.
Is financing that is not shown as a liability in a company`s balance sheet.
Is the sum of net direct cash costs and depreciation, depletion and amortisation.
Are earnings not paid out as dividends
Is the Weighted Average Cost of Capital.
Is the tax levied on dividends paid abroad.