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Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

accumulative dividend

See cumulative dividend.

accumulative dividend.

See cumulative dividend under DIVIDEND.

cumulative dividend

A dividend that grows from year to year when not paid. 0 A cumulative dividend is usu. on preferred shares, and it must be paid in full before common shareholders may receive any dividend. If the corporation does not pay a dividend in a particular year or period, it is carried over to the next year or period and must be paid before the common shareholders receive any payment. - Also termed accumulative dividend. Cf. noncumulative dividend.

noncumulative dividend

A dividend that does not accrue for the benefit of a preferred shareholder if there is a passed dividend in a particular year or period. Cf. cumulative dividend.