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Lecture Practical business math procedures (10/e): Chapter 21 - Jeffrey Slater
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Chapter 21 - Stocks, bonds, and mutual funds. In this chapter, the learning objectives are: Read, calculate, and explain stock quotations; calculate dividends of preferred and common stocks; calculate return on investment; read, calculate, and explain bond quotations; compare bond yields to bond premiums and discounts; explain and calculate net asset and mutual fund commissions; read and explain mutual fund quotations. | Chapter 21 Stocks, Bonds, and Mutual Funds Read and explain stock quotations Calculate dividends of preferred and common stocks; calculate return on investment Stocks, Bonds, and Mutual Funds #21 Learning Unit Objectives Stocks LU21.1 Read and explain bond quotations Compare bond yields to bond premiums and discounts Stocks, Bonds, and Mutual Funds #21 Learning Unit Objectives Bonds LU21.2 Explain and calculate net asset and mutual fund commissions Read and explain mutual fund quotations Stocks, Bonds, and Mutual Funds #21 Learning Unit Objectives Mutual Funds LU21.3 Cumulative preferred stock - entitles its owners to a specific amount of dividends in 1 year Stock - Shares of ownership in a company Common Stock - Stock that allows owners to have voting rights Stocks Preferred Stock - Does not allow voting rights, but gives preference over common stockholders in dividends Stocks Dividends - Payments to shareholders from profit Dividends in arrears - Payments owed | Chapter 21 Stocks, Bonds, and Mutual Funds Read and explain stock quotations Calculate dividends of preferred and common stocks; calculate return on investment Stocks, Bonds, and Mutual Funds #21 Learning Unit Objectives Stocks LU21.1 Read and explain bond quotations Compare bond yields to bond premiums and discounts Stocks, Bonds, and Mutual Funds #21 Learning Unit Objectives Bonds LU21.2 Explain and calculate net asset and mutual fund commissions Read and explain mutual fund quotations Stocks, Bonds, and Mutual Funds #21 Learning Unit Objectives Mutual Funds LU21.3 Cumulative preferred stock - entitles its owners to a specific amount of dividends in 1 year Stock - Shares of ownership in a company Common Stock - Stock that allows owners to have voting rights Stocks Preferred Stock - Does not allow voting rights, but gives preference over common stockholders in dividends Stocks Dividends - Payments to shareholders from profit Dividends in arrears - Payments owed to cumulative preferred shareholders Stockholders Elect Board of Directors Elect Officers of Corporation How Stocks Are Traded Stockbrokers - people who buy and sell stock on the floor of the exchanges. They charge a commission for trading stocks. Stock exchanges - An orderly trading place for stock. Stock Quotations in Newspaper’s 52 weeks YLD VOL NET HI LO STOCK (SYM) DIV % PE 100s CLOSE CHG 40.49 17.27 General Electric (GE) 1.24 6.8 8.73 75,537 18.34 1.59 PE Ratio = Closing price per share of stock = $18.34 = 8.73 Annual earnings per share $2.10 Earnings per share = Annual earnings . Total number of shares outstanding Stock Quotation Calculations Stock yield = Annual dividend per share = $1.24 = 6.8% Today’s closing price per share $18.34 *Earnings Per Share are not listed on the stock quote Dividends on Preferred and Common Stock The stock records of Jason Corporation show the following : Preferred stock issued: 20,000 shares. In 2011, Jason paid no dividends .