14:38 Jul 22, 2008 |
French to English translations [PRO] Bus/Financial - Investment / Securities | |||||||
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| Selected response from: rkillings United States Local time: 14:37 | ||||||
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Summary of answers provided | ||||
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3 | cumulative preferred dividend (right) |
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Discussion entries: 4 | |
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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 |
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