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dividende préciputaire

English translation: cumulative preferred dividend (right)

14:38 Jul 22, 2008
French to English translations [PRO]
Bus/Financial - Investment / Securities
French term or phrase: dividende préciputaire
What sort of dividend is this, please?
"...le droit au dividende préciputaire, priorité et cumulatif des actions de categorie B......
Jack Dunwell
France
Local time: 06:27
English translation:cumulative preferred dividend (right)
Explanation:
on the Class B preference shares. In your sentence you can simply omit or word around 'préciputaire', which appears to do no more than describe the commonly understood distribution entitlement on cumulative preference shares.

Judging from this passage in a Senate bill from 1998, the term seems to have become divorced from its original marriage contract meaning:

"C'est tout le sens de la notion de valeurs mobilières privilégiées, c'est-à-dire des actions dites de priorité, qui confèrent à leurs titulaires plusieurs avantages par rapport aux autres actions : augmentation du droit aux bénéfices annuels, soit sous forme d'une quote-part des bénéfices supérieure à celle revenant aux autres actions, soit sous la forme d'un dividende préciputaire (dividende versé aux actions privilégiées par préférence aux actions ordinaires, qui peuvent ainsi se retrouver privées de toute distribution en cas d'insuffisance des bénéfices) soit encore sous la forme d'un dividende cumulatif. Il est également possible d'augmenter les droits pécuniaires de certains actionnaires au jour de la liquidation de la société."

Also, in English we are more likely to describe rights to receive dividends as going with (inhering in) the financial instrument; that is, the adjectives, especially if there are a string of them (cumulative, preferred, putable, etc.), apply more naturally to the share than to the dividend.
Selected response from:

rkillings
United States
Local time: 21:27
Grading comment
Thank you Bob. That's one for the Records!
4 KudoZ points were awarded for this answer



Summary of answers provided
3cumulative preferred dividend (right)
rkillings


Discussion entries: 4





  

Answers


4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
cumulative preferred dividend (right)


Explanation:
on the Class B preference shares. In your sentence you can simply omit or word around 'préciputaire', which appears to do no more than describe the commonly understood distribution entitlement on cumulative preference shares.

Judging from this passage in a Senate bill from 1998, the term seems to have become divorced from its original marriage contract meaning:

"C'est tout le sens de la notion de valeurs mobilières privilégiées, c'est-à-dire des actions dites de priorité, qui confèrent à leurs titulaires plusieurs avantages par rapport aux autres actions : augmentation du droit aux bénéfices annuels, soit sous forme d'une quote-part des bénéfices supérieure à celle revenant aux autres actions, soit sous la forme d'un dividende préciputaire (dividende versé aux actions privilégiées par préférence aux actions ordinaires, qui peuvent ainsi se retrouver privées de toute distribution en cas d'insuffisance des bénéfices) soit encore sous la forme d'un dividende cumulatif. Il est également possible d'augmenter les droits pécuniaires de certains actionnaires au jour de la liquidation de la société."

Also, in English we are more likely to describe rights to receive dividends as going with (inhering in) the financial instrument; that is, the adjectives, especially if there are a string of them (cumulative, preferred, putable, etc.), apply more naturally to the share than to the dividend.


    Reference: http://www.senat.fr/leg/ppl97-565.html
rkillings
United States
Local time: 21:27
Meets criteria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 131
Grading comment
Thank you Bob. That's one for the Records!
Notes to answerer
Asker: Bob! All that you say is instructive, fits and I thank you!

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