Definitions

Ex-Date

Date on which a stock begins trading without the benefit of the dividend. Typically, a stock’s price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date.

Return of Capital

Returns of capital are distributions by investment companies in excess of tax-basis earnings and profits.

Payable Date

Date on which a declared stock dividend or a bond interest payment is scheduled to be paid.

Ordinary Dividends

Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.

Short Term Capital Gains

The profit realized from the sale of securities held for less than one year.

Long Term Capital Gains

Gain on the sale of a security where the holding period was 12 months or more and the profit was subject to the long-term capital gains tax.