dividend stopper

Spanish translation: suspensión de dividendo

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:dividend stopper
Spanish translation:suspensión de dividendo
Entered by: Myriam Garcia Bernabe

21:39 Sep 22, 2010
English to Spanish translations [PRO]
Bus/Financial - Finance (general) / prospectus
English term or phrase: dividend stopper
Offering Circular from a financial services institution for the issue of some new securities.

One of the headings is DIVIDEND STOPPER:
(and the contents under heading)
If dividends are not paid on the X Preferred Securities as a result of insufficiency of distributable funds or restrictions imposed by capital adequacy requirements, then the right of the holders of the X Preferred Securities to receive a dividend from the Company will be lost. In such a case the Company will not pay dividends or other distributions on its ordinary shares or any other class of share capital or securities issued by it and expressed to rank junior to or equal with the X Preferred Securities until such time as dividends on the X Preferred Securities in respect of successive dividend periods together aggregating no less than 12 months shall have been declared and paid in full.

I cannot find the term in Spanish.
Any help appreciated
TIA
Myriam
Myriam Garcia Bernabe
United Kingdom
Local time: 07:06
suspensión de dividendo
Explanation:
Venevisión Acciones de BP repuntan pese a posible suspensión de dividendo Univisión LONDRES (AP) – Las acciones de British Petroleum PLC subieron el viernes en Londres y Nueva York a pesar de los indicios de parte de su director general de que podría suspenderse el pago del dividendo correspondiente al segundo trimestre, … BP sufre la doble presión del Gobierno de EEUU y de sus accionistas AFP…

http://webcache.googleusercontent.com/search?q=cache:xCu8JAz...

The increase in trust preferred securities is exactly matched by the E, I and G issues using the 1.85 exchange rate at the time. On page 240, they are explicitly mentioned as being subordinated liabilities, along with the RBS-F, RBS-H and RBS-L preference shares that are believed to be be non-discretionary. Against that there are other RBS issued trust preferred securities that are also considered subordinated liabilities but which will have their dividends stopped as a result of EC intervention. However, a look at their prospectuses will show that they have explicit dividend stoppers in the event of suspension in the dividends of any other series of RBS non-cumulative shares.

http://webcache.googleusercontent.com/search?q=cache:tl_8U9q...
Selected response from:

José Mª SANZ (X)
Spain
Local time: 08:06
Grading comment
Gracias.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3suspensión de dividendo
José Mª SANZ (X)
3limitación de dividendos
patinba


  

Answers


20 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
limitación de dividendos


Explanation:
A falta de algo mejor...
CiberConta: buscar en WWW - [ Translate this page ]
Este requisito, continuación del anterior, viene a establecer otra limitación del reparto de dividendos cuando la cifra de patrimonio se encuentre por ...
www.ciberconta.unizar.es/leccion/cf007/200.HTM - Cached - Similar
Diccionario técnico inglés-español económico-financiero-actuarial - Google Books Result
Josefina Martínez Barbeito, Julio G. Villalón, Josefina Martínez Barbeito - 2003 - Reference - 862 pages
Dividend in arrears Dividendo atrasado. Dividend limitations Limitaciones de dividendos. Dividend loading Recargo de participación. Dividend off Sin cupón, ...
books.google.com/books?isbn=8497450256.

A 'dividend stopper' is a term which states that the issuer will not, with a specified period of time (usually known as the 'stopper period'), pay a coupon on another security or class of securities if it does not pay a dividend on the securirity in question.

A dividend stopper is generally included in the terms of instruments that provide for 'discretionary' returns, for example, a preference share that requires a directors' declaration. The effect of the dividend stopper is that it effectively counteracts the discretion and places pressure on the entity to pay the required return on the discretionary instrument

patinba
Argentina
Local time: 03:06
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1550
Login to enter a peer comment (or grade)

39 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
suspensión de dividendo


Explanation:
Venevisión Acciones de BP repuntan pese a posible suspensión de dividendo Univisión LONDRES (AP) – Las acciones de British Petroleum PLC subieron el viernes en Londres y Nueva York a pesar de los indicios de parte de su director general de que podría suspenderse el pago del dividendo correspondiente al segundo trimestre, … BP sufre la doble presión del Gobierno de EEUU y de sus accionistas AFP…

http://webcache.googleusercontent.com/search?q=cache:xCu8JAz...

The increase in trust preferred securities is exactly matched by the E, I and G issues using the 1.85 exchange rate at the time. On page 240, they are explicitly mentioned as being subordinated liabilities, along with the RBS-F, RBS-H and RBS-L preference shares that are believed to be be non-discretionary. Against that there are other RBS issued trust preferred securities that are also considered subordinated liabilities but which will have their dividends stopped as a result of EC intervention. However, a look at their prospectuses will show that they have explicit dividend stoppers in the event of suspension in the dividends of any other series of RBS non-cumulative shares.

http://webcache.googleusercontent.com/search?q=cache:tl_8U9q...


José Mª SANZ (X)
Spain
Local time: 08:06
Specializes in field
Native speaker of: Spanish
PRO pts in category: 88
Grading comment
Gracias.

Peer comments on this answer (and responses from the answerer)
agree  Emma Ratcliffe
21 mins
  -> ¡Muchas gracias, Emma!

agree  Ines Arce
2 hrs
  -> ¡Muchas gracias, Ines!

agree  Victoria Frazier
3 hrs
  -> ¡Muchas gracias, Victoria!
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