1870: The Trans-Mississippi

9 Dividends

After a company operates its train(s) it may declare a dividend.

9.1 Dividend Type

The president decides whether to pay full dividends, pay half dividends or withhold the company earnings in the company treasury.

9.1.1 Full Dividend

Each share receives 10% of this round's operating income.
Dividends for shares on the open market are paid to the bank.
Dividends for shares in the initial offering and on redeemed shares are paid to the company treasury.

9.1.2 Half Dividend

If the company pays a half dividend, the company retains half of the money and pays the rest as a dividend.
Round the dividend amount in favour of the share holders. For example income of $50 would split as $30 as a dividend to the share holders and $20 to the company.
Each share receives 10% of this dividend amount.
Dividends for shares on the open market are paid to the bank.
Dividends for shares in the initial offering and on redeemed shares are paid to the company treasury.

9.1.3 No Dividend

If a company owns no train it may not pay a dividend.
If the company ran a train (or trains) for income, it may retain the whole amount in the company treasury.

9.1.4 Token Adjustment

Adjust the token on the stock market right if dividends are paid, or left if dividends are retained. It does not move if a half dividend is paid. Companies that declare a dividend of $0 are considered to have retained dividends.

9.2 Dividend Collection

Players (and companies) take their dividends from the bank as they are declared.

Table of Contents - Operate Trains - Trains - Glossary

Last Modified: November 12, 2003. Copyright 1999-2003. W.R.Dixon.
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