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The essential difference between the transfer and the share is that the bonus (bonus) shares come from the company's annual after-tax profits, which are converted into share capital distribution; The conversion of shares comes from the provident fund; At present, bonus shares are subject to tax at 20% of the face value, and conversion shares are not subject to tax.
They all have the following programs:
1.On the equity registration date, **holder** is confirmed to enjoy bonus shares or converted shares;
2.On the ex-rights (ex-dividend) date, the previous day's ** price will be ex-rights (ex-dividend), and the stock price will naturally change, which is called ex-rights (ex-dividend).
Meaning, if you hold **, if you have 10 shares, you will add three shares, and now the minimum purchase of ** is 100 shares, if it is 100 shares, you will add 30 shares, and so on.
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If you have 10 shares outstanding** and the company gives you 3 shares, you will hold a total of 13 shares. The total share capital of the company has increased. But ** to be removed. However, in the reform of equity division, it is stipulated that there will be no expulsion.
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At present, there are two meanings of ten for three.
The first is the above-mentioned share reform, where the shareholders of non-tradable shares give to the shareholders of tradable shares. For every 10 outstanding shares held, 3 shares will be awarded. This dividend is the same as the total share capital.
The second is dividends, when the company has profit dividends, that is, all shareholders, regardless of circulation, non-circulation, hold three bonus shares for every 10 shares, this dividend is taxable, and the total share capital will increase by 30%.
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It seems that this expression is better.26
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10 allotment of 3 shares means that every 10 shares have the right to subscribe for 3 shares according to the allotment price. The allotment price is normally lower than the market price, and the allotment is the act of a listed company issuing new shares to the original shareholders to raise funds. When the company allocates shares, the subscription rights of the new shares are distributed among the original shareholders according to the proportion of the original equity, that is, the original shareholders have the right of first refusal.
The allotment is a form of repatriation, which gives the existing shareholders of the enterprise the right of first refusal to the new one. This approach protects the legitimate preemptive rights of existing shareholders. Each owner is eligible for the first refusal to purchase new shares at the rate of 1 share for every 5 shares subscribed for it held.
The rights issue is usually carried out on an underwriting basis, so that the underwriters will purchase new shares that are not purchased by existing shareholders with a certain amount of **.
Extended information: 1. A major feature of the allotment is that the first day of the new shares is determined by making a certain discount to the market price at the time of the issuance announcement. The discount** is to encourage shareholders to make bids.
When the market environment is unstable, it is very difficult to determine the allotment price. Under normal circumstances, the market price of the new shares issued at the time of the announcement of the allotment is 10% to 25%. Theoretically, the ex-rights ** is the weighted average of the new shares before the announcement of the allotment of shares**, and it should be the ** after the allotment of new shares.
The number of allotments is limited as of the record date.
The number of shares held is multiplied by the public allotment ratio and rounded up.
Fractions of a share are rounded to the nearest integer.
2. The trading process of allotment is as follows
1. Qualification confirmation, investors need to determine whether they are eligible to participate in the allotment of shares 10 to 3;
2. Pay the fee, as long as it is within the deadline, then the allotment fee can be paid on the ** trading day;
3. Settlement announcement, which requires the settlement registration of relevant departments, and the listed company will announce the results of the allotment;
4. ** Arrival, after the completion of the above transaction steps, the allotment of shares will be received;
5. Transactions, the arrival of ** can be publicly transferred and traded, this transaction is a free transaction, and the transaction process of buying and selling ** is consistent.
3. Is the allotment a good thing or a bad thing?
Is the rights issue a big benefit or a big disadvantage? It depends on the situation.
Under normal circumstances, the ** of the allotment is usually lower than the market price, because the ** of the allotment will be discounted by a certain amount of silver. The reason for the new ** number is to be ex-rights, so the stock price will fall according to a certain percentage.
For shareholders who did not participate in the rights issue, they will lose money because the share price is lowered.
For the shareholders participating in the allotment, although the stock price is getting lower and lower, the good thing is that the number of ** has been increasing, and the total income right has not been changed.
In addition, even after the allotment of shares and ex-rights, there may be a situation where the rights will be filled in the bull market, that is, ** will return to the original price or even higher than the original price, so it is also possible to obtain certain income.
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The placement of 3 shares for every 10 shares refers to the dividend of 3 shares for every 10 shares of the listed company.
For example, if an investor holds 1,000 shares, then the investor can get a **dividend of 300 shares, and it should be noted that the **dividend.
There will be no actual income for investors, the stock price will be **after dividends, and the corresponding number of holdings will increase. The total assets of the investor.
There will be no change, **Dividends are divided into cash dividends and dividends.
Dividends, cash dividends are dividends in the form of cash, and dividends are dividends in the form of **. It is a part of the ownership of the joint-stock company, and it is also a certificate of ownership issued by the joint-stock company to each owner as a shareholding certificate in order to raise funds and obtain dividends and bonuses. ** is the capital market.
The long-term credit instrument can be transferred, bought and sold, and the shareholders can share in the profits of the company, but also bear the risks caused by the company's misoperation.
Each share** represents a basic unit owned by shareholders of the business.
Ownership. Every public company will issue a **. Each copy of the same category** represents equal ownership of the company.
The size of the ownership share of the company owned by each owner depends on the proportion of the number of shares held by the owner in the total share capital of the company. **is a kind of valuable**, is a joint-stock company to raise capital issued to the investor of the share certificate, on behalf of its holder (that is, shareholders) ownership of the joint-stock company, the purchase of ** is also a part of the purchase of the company's business, can grow and develop together with the enterprise.
Income refers to the dividends obtained by enterprises or individuals in the form of foreign investment, the difference between the transfer and acquisition of funds and the actual cost of the book, and the net assets of equity investment in the investee.
the amount of money owned, etc. **Income includes dividend income, capital gains and CPF conversion gains. Common shares let Tong.
It refers to the shares that enjoy ordinary rights in the company's operation and management, profits and distribution of property, and represent the right to claim the profits and remaining property of the enterprise after satisfying all the claims for repayment and the claims of the preferential shareholders. Common shares form the basis of a company's capital and are a basic form of capital.
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This is the dividend of the listed company! Equity dividends! To put it simply:
Three out of ten should be the number of shares! It's ten shares to give you three hu! For example, if you hold 100 shares, the company will give you 30 shares, and you will give it away for free!
Ten distributions of three is generally three yuan in cash and ten shares of three yuan, and the same as above will give you thirty yuan. Ten to three should be transferred to three shares! As for the difference between giving a gift, the accounting subjects issued by the enterprise when distributing profits are different!
But for **, it's all the same, it's all for free! But giving away for free is not necessarily a good thing! At the same time as giving it to you, the profits of the year are diluted!
The stock price is also suddenly down! For example, the current price is ten yuan! Back then, you were given ten for ten, and on the day of the expulsion, it was five yuan!
Whether to fill in the right or not depends on whether the market is full of confidence in the future development!
Here are a few ways to distribute profits.
One, 10 get 3 free
It is the listed company that uses the corporate profits to pay dividends, and the difference with cash distribution is that the dividend profits are retained in the enterprise and distributed to the holders to increase the share capital. What changes is the undistributed profit in the owner's equity. This part is a dividend, so it needs to be taxed.
3 shares for every 10 shares, which is equivalent to 10 shares becoming 13 shares, and the tax is paid.
2. 10 turns 3
The appearance is also an increase, but he uses the provident fund in the owner's equity, not the undistributed profits. He increased the share capital and reduced the net assets per share like 10 get 3 free, but he realized it by reducing the branch reserve fund in the owner's equity. Because he does not belong to the dividends, he does not need to pay tax on the land return.
Every 10 shares are increased by 3 shares, which is equivalent to 10 shares becoming 13 shares, and there is no need to pay taxes.
Three, 10 factions 3
This is a listed company by taking out part of the profits to cash to the holders on the equity registration date, and distributing 3 yuan for every 10 shares, which is a dividend, so it also needs to pay taxes.
In addition, shares can only be given when the company is profitable, but the transfer of shares does not require the company to make a profit. Here are a few of the differences.
This knowledge is not the focus of investors' research, and to put it bluntly, it is equal to zero. Investors need to study the buying and selling points, and that's the key to the point!
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6 shares for every 10 shares means that the proportion of shares or transfer is larger.
High transfer (allocation) refers to a large proportion of shares or transfers, generally more than 10 or 5 to be considered high transfers. For example, 6 shares for every 10 shares, or 8 shares for every 10 shares, etc. The proportion of transfers generally does not exceed 10 and 10 transfers.
As a hype theme, high transfer is relatively more common in the bull market stage, because it is more likely to be sought after by shareholders at this time, and in the bear market stage, because shareholders are relatively not keen on this theme, there are relatively few cases of high transfer.
Before the announcement of the high transfer, the main force (market maker) will generally know in advance (this information asymmetry is sometimes unavoidable), so the stock price often warms up. However, the ** of high transfer still has a certain speculative value, but it is only a hype value, and there is no investment value in the fundamental sense, but only speculative value.
On the implementation date of the company's "high transfer" plan, the company's stock price will be ex-rights, that is, although the "high transfer" plan has increased the number of ** in the hands of investors, the stock price will also be adjusted accordingly, the proportion of investors' shares remains unchanged, and the total value of the holdings has not changed.
The essence of "high transfer" is the internal structural adjustment of shareholders' equity, which has no impact on the return on net assets, nor does it have any substantial impact on the company's profitability. In addition, under the condition that the net profit remains unchanged, the earnings per share will be diluted due to the expansion of the share capital, the conversion of capital reserve into share capital and bonus shares.
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6 shares for every 10 shares means that 6 shares for every 10** of your holdings will be given to your account.
A. Ex-rights** = ** price on the equity registration date (1 + allotment rate) B Allotment ex-rights** = (** price on the equity registration date + allotment price * allotment rate) (1 + allotment rate) C. Ex-rights when the allotment and allotment are carried out at the same time** = (** price on the equity registration date + allotment price * allotment rate) (1 + allotment rate).
Ex-rights and ex-dividends** = (** price of equity registration - cash dividend per share + allotment price * allotment rate) (1 + allotment rate + allotment rate).
Assuming that the current stock price is 10 yuan, 1,000 shares of wide shares are held at a loss. Then the stock price is simple and bright after ex-rights and dividends, and the number of shares becomes 1600
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**The number becomes 3200 shares, and you will get a cash dividend of 600 yuan, and the stock price will also be ex-right, and your market value will not increase because of the dividend.
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3,200 shares, after the dividend, at this time your total assets remain unchanged, or 100,000, but the stock price is reduced, the stock price is about about one yuan per share on the day of the ex-dividend date, (the original stock price is 50 yuan) because of the dividend shares, just a low stock price, with personal assets unrelated
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For every 10 shares, 6 shares will be distributed 3 yuan, that is: 6 shares for every 10 shares, and 16 shares will be distributed after the shares, and a cash dividend of 3 yuan (tax included) will be distributed
Now there are 2,000 shares, the stock price is 50 yuan per share, the value is 100,000 yuan, there are 3,200 shares after the shares, the stock price is 35 yuan per share, the value is 10,000 yuan, the cash dividend is 600 yuan (tax included), and you get a cash dividend of 480 yuan after tax deduction.
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**Holding for a long time, you may encounter such a situation as an increase in shares, which is that you hold a certain **, it will be delivered to you in proportion**, that** ticket does not need money,Generally speaking, this is a good thing, because it means that you eat more, and you hold more responsibility for the total assets. <>
Suppose the company's current market value is 50 yuan, and now it is 50 yuan, I bought 1000 shares, because I bought it for a long time, and it wasn't so expensive when I bought it, as for how much money I spent at the time, it doesn't matter, it doesn't matter, it means that I now hold 1000 shares of this company's **, and then the company's capital reserve is now increased by attack, after he transferred, the company has more money, and the number of votes is more. In order to give back to me, investors who have supported the development of this enterprise for a long time and have held it for a long time, and then gave this transfer increase**, I will distribute 4 shares to me if I hold 10 sharesIf I hold 1,000 shares, I will be given 400** votes, which is distributed to me, and of course I don't need to spend money. <>
For ordinary investors, as long as you are really optimistic about the development of this enterprise, it is a good thing, because the same is 50 yuan a share of my 1000 shares, there is not much money, how much money do I have 1400 shares, is not equivalent to 20,000 yuan more? That's definitely a good thing for me. And if you have already registered on the same day.
The trading must be subject to certain restrictions, and other aspects have no impact. <>
But most people can't do such a good thing, it's like filming, if you also hold this company, a month you just sold less than half a month's company** dividends, you don't care how people go through the program, can you check it in half a month, anyway, now people are just half a month dividends, if you don't catch up, then you don't have it, I held this time I just planned to sell, I heard, he didn't pay dividends and I sold it, then I caught up,Therefore, this investment thing cannot be said to be absolutely fair, because your own vision has a lot to do with it.
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