This is Scrip, a copper gadget that enables digital payments.
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EDF will not offer a scrip dividend on 21.56 earnings.
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Right, so they could check the doctors' scrip. Mm-hmm. Okay.
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The company maintained its dividend at 0.61 euro per share, payable in April with a scrip dividend program, However, the discounted scrip program will end in 2017 if Brent is at $60 per barrel, it said.
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At first, I was a bit apprehensive of a sex toy 'scrip.
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On a psychological level, Scrip is also designed to feel like money.
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Scrip isn't real—it's a design concept—but is still holds value.
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Governments are tempted to over-issue scrip, as in 18th-century America.
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This is the question behind Scrip, a product concept from studio NewDealDesign.
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Total added it would eliminate its scrip dividend scheme from June 2019.
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As you buy things, by syncing Scrip with NFC-enabled "cash register" machines.
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They need to work to get the scrip but there's not enough around.
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Shell in the fourth quarter scrapped its scrip dividend, in a sign that it is confident of being able to maintain around $20163 billion in annual dividend payments without resorting to scrip or borrowing after a three-year oil price downturn.
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Discontinuing scrip dividends and large acquisitions on top of this may be more challenging.
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The company in February announced a five-percent discount for its inaugural scrip payout.
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France's Total said it will scrap the discount offered for scrip shares in 250.
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At the same time, they began issuing their own scrip to cover their expenses.
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Just over 435 million election rights were exercised for the scrip dividend, the company said.
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Shareholders will have a choice between a scrip and a cash dividend, the company said.
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Scrip, while it might be gorgeous, is meant to make you feel a little bad.
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Ferrovial proposes scrip dividends and share buybacks of up to 360 million euros in 2020.
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Above all, Scrip would be a money-saving tool that signals you have money to burn.
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The scrip dividend scheme was introduced in early 2015 following the sharp drop in oil prices.
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Spanish builder Sacyr announced on Wednesday details for a scrip dividend to be paid on January 30.
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The lender currently pays three dividends in cash and one scrip, with a 30-40 percent pay-out.
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The company proposed to maintain its dividend unchanged at 0.61 euros per share, payable through cash and scrip scheme.
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The notes are scrip, supposedly backed by U.S. dollars loaned to the government, and can be used like cash.
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Sacyr said on Thursday it would pay a scrip dividend of 0.054 euro gross per right on July 4.
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Shell's dividend payouts in the 230 months to September amounted to $223 billion, with scrip accounting for around a quarter.
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Argentines hoarded pesos, spending scrip as fast as possible (an illustration of Gresham's law, that bad money drives out good).
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Total has said it will remove the scrip dividend scheme if oil is at around $60 per barrel in 2017.
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The bank has been paying three dividends in cash and one in shares or cash, known as a scrip dividend.
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It set a reference price of 39.45 naira for the scrip issue, compared with Thursday's share price of 40.02 naira.
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REPSOL The oil company said late on Wednesday it would pay 0.426 euros gross per right under its scrip dividend program.
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This was aided by scrip dividend schemes for DBS and UOB, slower risk-weighted asset growth and healthy internal capital generation.
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The dividends are paid on a scrip basis which allows shareholders to choose between receiving cash or shares in the company.
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Total added that it will continue to buy back shares issued as scrip dividend when prices were down, to eliminate dilution.
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The group also pointed to a scrip dividend and optimizing costs for nuclear decommissioning as measures that will also reduce debt.
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So far this year, Total has raised dividends, BP flagged a resumption of share buybacks and Shell scrapped its scrip dividend.
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In order to avoid further dilution in future, the group also committed to scrapping scrip dividends, with payouts only in cash instead.
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If all shareholders chose scrip, Woolworths would have 1.5-1.6 billion rand more for investment and to pay off debt, Moir said.
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Scrip and suspending buybacks were still vital for many companies to survive at crude prices of around $50 a barrel in 2017.
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For Shell, scrip has helped reduce the breakeven price in 2017 from $55 a barrel to $50 a barrel, according to HSBC.
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The company will pay a cash dividend on July 16 and will issue new shares as a result of a scrip dividend.
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Like French peer Total, Statoil has proposed that shareholders could choose shares over cash as a dividend payment, a so-called scrip dividend.
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Sources have told Reuters that expectations of a third year of scrip dividends were one factor behind shareholder restlessness with CEO Federico Ghizzoni.
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"The main difference here is that we used to operate with scrip whereas the new Yangon Stock Exchange is all electronic," Pun said.
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LSE's all-scrip acquisition of Refinitiv values the latter at about US$27bn, including net debt of around US$12.5bn, the announcement said.
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NDD's most convincing case for Scrip, beyond the fact that it looks genuinely gorgeous, is that it could effectively teach children about budgeting.
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It's like using tokens in a slot machine that will pay out in cash, or scrip, if you happen to win a potful.
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As recently as the late 1960s, some sugar-plantation workers were paid in scrip that could be exchanged only at plantation-owned stores.
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Dividend payouts for the Anglo-Dutch company in the 22017 months to September amounted to $503 billion, with scrip accounting for around a quarter.
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Norway's Statoil confirmed in October it would revert to full cash dividends from the fourth quarter, after ending a two-year scrip dividend program.
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As director of experience design Jaeha Yoo describes it, Scrip isn't much more than a high-tech version of a public transit fare card.
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"Spending cash is actually painful to people," says Yoo cheerfully, when I sit down with him and Amit to take a look at Scrip.
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To pay for things with Scrip, you visit a specially enabled ATM and load money onto it, like you would with a prepaid subway card.
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The bank said it would pay three dividends in cash and one in shares or cash, known as a scrip dividend, against this year's earnings.
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It recently said it was considering reintroducing a scrip dividend in 2019, which UBS estimates would add 25 basis points to its capital through 2021.
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Reuters has not verified the newspaper reports, and cannot vouch for their accuracy: Faes Farma says to pay scrip dividend of 0.118 euro per right.
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Scrip is a handsome copper lozenge that's smooth on the bottom and stippled on top, with space for a tiny numerical screen at one end.
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Oil companies have used the scrip dividend programme to maintain rather than cut dividends due to the prolonged fall in oil prices in a global glut.
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It will buy back around $1.6 billion worth of shares a year in order to offset the dilutive effect of the scrip dividend program, Gilvary said.
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"The pressure is on Shell to draw a line in the sand and commit to end scrip dividend," said Brendan Warn, analyst at BMO Capital Markets.
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Democratic Congresswoman Alexandria Ocasio-Cortez has previously compared the plan for Libra to scrip, corporate-issued money that could only be spent with the issuing corporation.
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As you buy things, by syncing Scrip with NFC-enabled "cash register" machines, the texture of the gadget's surface changes, and those light-up numbers tick downwards.
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Separately, the government said it would subscribe to 3 billion euros of the planned 4 billion euro capital increase and would also take the scrip dividend options.
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The firm also announced it would buy back shares over the next three months in order to try to dampen the impact of its scrip dividend program.
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It plans to buy back $25 billion of shares by 2020 to offset the dilutive effect of the scrip and its $54 billion acquisition of BG Group.
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Perusing documents of the crew reveals offers to exchange "Loyalty" (a company scrip of sorts gained by working for a megacorporation) for time on the tourist stations.
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The revised offer gives Superloop shareholders an option to receive the consideration fully in cash, or partially in cash and scrip of the newly formed unlisted entity.
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Botin said the bank would pay three dividends in cash this year and one in shares or cash, known as a scrip dividend, against this year's earnings.
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In what rational universe could someone simply issue electronic scrip — or just announce that they intend to — and create, out of the blue, billions of dollars of value?
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If much of their income becomes denominated in scrip, the government and private sector would struggle to pay back debt, which is still denominated in the official currency.
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"We are able to tackle this situation, and we won't be using scrip dividends," he said, referring to a practice where investors are offered shares in place of cash.
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The company generated $1.8 billion in surplus cash over the first nine months of the year, compared with $1.4 billion in shares issued as part of the scrip dividend.
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Chief Financial Officer Jessica Uhl said in a call last week that Shell's priorities remain to reduce debt, pay dividends and turn off scrip before turning to share repurchases.
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Net debt rose 569 million euros from the fourth quarter, to 6.8 billion euros, mainly due to a share buyback undertaken to allow the payment of a scrip dividend.
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The Anglo-Dutch company said it will abolish its scrip dividend, through which investors can opt to receive dividends in shares or cash, in the fourth quarter of 2017.
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The core capital ratio rose to 10.94 percent on a pro-forma basis, assuming a 75 percent take-up for the 0.12 euros scrip - or paid in shares - dividend.
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BP had pipped its rivals when announcing last month that it would resume share buybacks in the fourth quarter in order to offset the dilutive effect of the scrip dividend.
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Most states that allow medical marijuana allow it to be prescribed for migraines, but here in Illinois, you have to be pretty much at death's door to get a 'scrip.
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While the rejection leaves Tabcorp's scrip and cash offer, valued at about A$6.2 billion, as the only proposal on the table, some shareholders expect higher offers to be forthcoming.
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However, this improvement is driven by financial transactions and cash protection measures (such as recurring offer of dividend payment in scrip, 2017 capex revised down) rather than significant profit uplift.
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They instead get "Razer Silver," a form of company scrip that can be redeemed towards purchases on the Razer store:Razer Silver is not a cryptocurrency, it is a loyalty rewards program.
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The company said it would raise its first-quarter dividend by 3.2 percent, while scrip shares issued in January for the second 2017 interim dividend were bought back to prevent dilution.
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The proposal would involve shareholders retaining scrip exposure to the company's regional and New Zealand newspaper assets as well as its radio and digital streaming divisions, Fairfax said in an statement.
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"We believe the form of the revised bid somewhat mitigates many of the uncertainties attached to the initial scrip bid," Royal Bank of Canada analyst Ben Wilson said in a note.
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Independence, which offered A$312 million ($211.66 million) in an all-scrip bid for Panoramic, restated that any capital raising by Panoramic would result in a breach of its offer conditions.
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Under the Blackstone deal, shareholders were to receive A$0.86 per share for their stake in the repair business either wholly in cash or through a cash and unlisted scrip mix.
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It also said its recently announced plan to offer dividends in the form of discounted shares, known as a scrip dividend, would have a discount of up to 10 percent each quarter.
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Though the spread between Italian and German yields has widened since the populist coalition was formed, it is far lower than in countries that have issued temporary IOUs, or "scrip" (see chart).
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Endesa sees 2020 net profit of about 1.6 billion euros, 2017-2020 CAGR of about 6 pct Faes Farma said on Wednesday it will pay a scrip dividend of 0.10 euro/right.
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"It would be more conservative, in what is a volatile environment, to offer scrip rather than cash," said Woolworths Chief Executive Ian Moir, referring to dividends paid in shares rather than cash.
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On Monday, IGO made an all-scrip offer for the 96.2% of shares in smaller peer Panoramic Resources Ltd it does not already own, pitching the bid at a steep 42% premium.
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The offer is for A$6.60 per share in cash, or alternatively, a 75 percent payment in scrip for the newly incorporated entity and the rest in cash, BWX said in statement.
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Instead of swiping a card or hitting a button, Scrip users would be making payments using a physical object that looks like a piece of jewelry, while miming handing over each bill.
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Shell, whose profits and cash flow beat Exxon's last year, is now set to buy $25 billion of shares by the end of the decade after abolishing its scrip policy in November.
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It will buy back around $1.6 billion worth of shares a year in order to offset the dilutive effect of the scrip dividend program, BP Chief Financial Officer Brian Gilvary said then.
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In the Battle of Blair Mountain, miners literally fought against management and government for their right to organize and to earn cash instead of scrip and to shop outside of company stores.
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LONDON, Oct 31 (Reuters) - British oil producer BP beat analysts' expectations for third-quarter earnings on Tuesday and said it would buy back shares to dilute the impact of its scrip dividend programme.
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Removing scrip, effectively used to preserve cash in hard times, will send the clearest message yet that Shell, as well as other companies, have adapted to a world of lower prices, Warn said.
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Joiner scraped by for three and a half years, paying his workers with scrip; in order to raise enough money to complete the well, he sold twenty-five-dollar stock certificates to farmers.
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"Some physicians feel so passionately that they are willing to work full time, but sometimes after doing all that their patients face a very high co-pay and abandon the scrip," he added.
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Under the separate Blackstone deal, shareholders would receive A$0.86 per share for their stake in the vehicle panel repair business either wholly in cash or through a cash and unlisted scrip mix.
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Caixabank said on Thursday it will make three dividend payments in cash and one in scrip against 2016 earnings and the dividend payout ratio in cash will be 50 percent of profit or above.
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The proposal would involve shareholders retaining scrip exposure to the company's regional and New Zealand newspaper assets as well as its radio and digital streaming divisions, said the memo to staff seen by Reuters.
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The bank said its core capital ratio rose to 10.94 percent on a pro-forma basis, assuming a 75 percent take-up for the 0.12 euros scrip - or paid in shares - dividend on 2015 results.
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Henry, who said he did not plan to take up a new executive role after leaving Shell, said the company would first remove scrip payments on its dividend before considering any increases in shareholder payouts.
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Total said it bought back all shares issued during the year for the scrip dividend scheme, and also bought back shares for $600 million to spread the benefits from the higher oil prices with shareholders.
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In a strategy update, the company reiterated its plans to buy back $22 billion of shares between 25 and 25 in order to offset the dilutive effect of the scrip and its acquisition of BG Group.
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A subsidiary of Rinehart's company launched an unconditional cash bid for the miner last week, trouncing a A$280.2 million scrip offer made in April by Mineral Resources and prompting that company to cancel its bid.
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Amit says Scrip wouldn't create the same kind of "paper trail" as a credit card, but it's hard to see how it would meet any of the above criteria while retaining the benefits of digital money.
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Independence, which last week made a A$312 million ($213.88 million) all-scrip bid for Panoramic, requested the nickel miner's board for due diligence access while noting that Panoramic had breached certain terms of the offer.
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BP said then it would buy back the equivalent number of shares it was issuing as part of its scrip dividend scheme through which investors can opt to receive dividend payouts in shares rather than cash.
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For all the pounds and pounds of cure we have thrown at this problem, we ignore the ounce of prevention that's available to us for around $1 per scrip — to the detriment of our own children.
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LAGOS, Sept 14 (Reuters) - Nigeria's Stanbic IBTC Bank said on Thursday it will offer shareholders the option to receive scrip dividends in lieu of cash dividends over the next three years after it declared an interim dividend.
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But St Barbara's MD and CEO Bob Vassie tells CNBC exclusively that the tide has turned and it's time to look for deals again, although with high valuations any deal would likely have to be scrip-based.
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To weather such an environment, Shell plans to cut capital spending further below the planned $33 billion for 2016, delay share buybacks and extend scrip dividends, where investors are offered discounted shares instead of cash, Henry told analysts.
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As of the current quarter, BP will buy back the equivalent number of shares it is issuing as part of its scrip dividend scheme through which investors can opt to receive dividend payouts in shares rather than cash.
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To weather such an environment, Shell plans to cut capital spending further below the planned $35 billion for 2016, delay share buybacks and extend scrip dividends, where investors are offered discounted shares instead of cash, Henry told analysts.
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BP fired the opening shot last week by surprising the market with the resumption of share buybacks after diluting share value for three years through scrip dividends, where investors can opt to receive dividends in shares or cash.
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Shell plans to buy back $25 billion of shares by 2020 and Total said it will raise first quarter interim dividend by 3.2 percent, while Scrip shares issued in January for the second 2017 interim dividend were bought back.
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Scrip would be a fantastic set piece in a '70s sci-fi film, and the idea raises interesting questions about the effects of tactile sensation, the psychology of user interfaces, and where exactly we situate the value of money.
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Botin, speaking at the bank's annual shareholders meeting in the city of Santander, said the bank intended to keep paying three dividends in cash and one in shares or cash, known as a scrip dividend, against this year's earnings.
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In a sign of confidence that it can maintain around $15 billion in annual dividend payments, Shell scrapped in the fourth quarter of 3.8393 scrip dividend, an austerity policy through which investors can opt to receive dividends in shares or cash.
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"We continue to believe Total should be one of the first majors that currently offers a scrip to move away and towards a full cash dividend, given the strength of its growth pipeline over the next few years," Borkhataria said.
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In the song, penned by Merle Travis, Ford croons about "owing [his] soul to the company store," referring to the practice of paying employees in "scrip," or vouchers that could only be spent in a store owned by the coal company.
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Total sent the strongest signal, announcing plans to increase dividends by 28.2 percent, buy back $26.7 billion of shares by 5.23 and abolish its so-called scrip policy introduced in the lean years of offering shares instead of cash dividends.
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"There are concerns with regard to continuity of flow of information about the company which is very vital for the appropriate price discovery in the scrip," NSE said, adding that trading may not reflect the actual status of the company.
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Both proposals are valued at less than Tatts' trading price and shareholders are divided over whether the board should favor the KKR-led all-cash bid over Tabcorp's cash-and-scrip offer and allow the U.S. firm to do due diligence.
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Spain plans to sell between 3.25 billion and 13 billion euros of four bonds including an inflation linked bond due 2033 Almirall said on Wednesday it would increase share capital by issuing 2.3 million shares for its scrip dividend program.
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This was aided by strong participation in its discounted scrip dividend scheme and slower risk-weighted asset growth over the last 18 months, and we expect capitalisation to remain stable in light of more modest growth expectations in the near term.
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With a 20 percent bounce in oil prices in the last quarter of 2017 to $5.43 a barrel, BP had a surplus of cash that allowed it to buy $343 million worth of shares in the fourth quarter, offsetting the scrip dilution.
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The surge in revenue led BP last October to become the first European oil major to resume share buybacks in order to offset the dilutive effect of so-called scrip dividend, where shareholders can opt to receive dividends via cash or shares.
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The pressure is now on Royal Dutch Shell to make good on commitments made in 2015, following the decision to acquire BG Group for $54 billion, to remove scrip in 2017 and launch a $216 billion share buyback program from 259 to 253.
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With the Shell's $30 billion asset disposal program on track to be completed almost a year ahead of schedule and debt trending towards around 20 percent, removing scrip will be in focus at its investor day at the end of the month.
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Armed with such results, Shell and Total are in payback mood to investors, buying back shares after diluting stakes with scrip dividends - consisting of shares rather than cash - introduced after the price crash which sent oil prices as low as $28 a barrel.
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The bank also said in a footnote to slides on its website that for regulatory purposes the CET 1 ratio at the end of March stood at 10.26 percent after excluding a scrip dividend the bank is paying on last year's accounts.
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MILAN, Feb 9 (Reuters) - Italy's biggest bank by assets UniCredit beat analyst forecasts by turning in a net profit in the fourth quarter and also boosted its capital base, although it said it will pay a scrip dividend for the third year running.
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But thousands of mostly anonymous investors have already heard about it through word of mouth and sent money — in the form of Ether, a freshly coded form of currency that has held itself out as a new and improved version of Bitcoin, the most popular virtual scrip.
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The fortune amassed by Cookie (John Magaro) and King-Lu (Orion Lee), partners in a mid-19th-century artisanal snack-food start-up in a rough section of the Oregon Territory, is a modest one: a cloth sack filled with shells, cutup coins and company scrip.
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"The scrip nature of the scheme also delivers a number of key benefits to Atlas shareholders, including; retained exposure to Atlas, the opportunity to benefit from potential synergies driven by the combination and greater diversification of revenue and commodity exposure," Atlas Managing Director Cliff Lawrenson said in a statement.
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The offer of A$6.60 per share, or alternatively, a 75 percent payment in scrip for the newly incorporated entity and the rest in cash, came from BWX's chief executive and finance director in partnership with Bain Capital Private Equity and its affiliates, the company said in statement.
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"The decision to offset any scrip dividend payments with share buy backs starting in Q4 2017 and the ongoing Gulf of Mexico oil spill payments, which BP forecasts to be at just over $3 billion in 2018, could prevent the company from reaching the financial metrics expected for a higher rating in 2018," Moody's said in a statement.
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Post transaction, pro forma FY17 ebitda would increase to $11.8m * Transaction funded via $10.7 mln of cash and bank debt and $2.7 mln of zenitas scrip * Deal highly accretive to zenitas eps, with pro forma fy17 eps accretion of 22% after non- controlling interests and pre-synergy benefit Source text for Eikon: Further company coverage: (Reporting by Sumeet Gaikwad)
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Jet's securities will now be moved to the trade for trade segment with effect from June 28 as a "preventive surveillance measure", from the current rolling segment which allows daily trading, the stock exchange said in a circular here "There are concerns with regard to continuity of flow of information about the company which is very vital for the appropriate price discovery in the scrip," NSE said, adding that trading may not reflect the actual status of the company.
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