Earnings per share
(EPS) Is the net profit after taxation and preference dividend divided by the number of ordinary shares in issue during the year.
The date a corporate action is effective and resultant new cash and/or stock are distributed.
Named after Ralph Nelson Elliott an accountant, who developed the concept in the 1930s. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott Waves.Entitlement offer
Emerging market fund
A fund that mainly invests in countries with developing economies, eg, China, eastern European or South American countries.
Means an issue of new shares by a company which may be subscribed for in return for agreeing to pay for the allotment of the new share at a set price. This entitlement is not tradeable unlike a rights issue.
("Equivalent Pension Benefits") Before 1974, some occupational pension schemes provided benefits in place of the then State pension scheme. EPBs are usually very small, and are increasingly rare.
An alternative name for ordinary shares.
A fund investing primarily in equities.
European Savings Directive
Aims to counter cross border tax evasion by collecting and exchanging information about foreign resident individuals receiving savings income outside their resident state.
Meaning "without" this is the opposite of Cum, and is used to indicate that the buyer of a security is not entitled to participate in whatever forthcoming event is specified. Ex cap, ex div, ex rights etc.
A share sold ex-dividend means the buyer is not entitled to receive the recently declared dividend.
Generally refers to a recognised stock market, for example, the London Stock Exchange or NASDAQ.
Exchange Price Input Code (EPIC)
(Epic Code) A three or four character code, unique to a particular stock, which is used as a systems code when accessing price. Also referred to as stock code.Exchange Traded Funds
Funds that track an index such as the FTSE 100, or market performance through a single share.
Where the stockbroker buys and sells at your request with no advice.
A formal notification that the holder of a call/put option wishes to buy/sell the underlying security at the exercise price.
Some Fund Managers levy charges on certain funds, should you decide to sell your investment within a specified period e.g. 5 years. This type of charge, which is becoming increasingly rare, may replace - or be in addition to - an initial charge.
These are orders where your specified limit price has not been met by the expiry date you have selected.
Extraordinary general meeting (EGM)
General meeting of a company at which non-routine proposals are voted on by shareholders.
The period, which can be no more than 2 months, immediately before the distribution of income from a fund (excludes cash funds). If you buy a fund during this period, you are not entitled to the next income payment. However, if you sell during this period then you remain entitled to the next income distribution.