21. Say what information is the most important in the

Finance section, to your mind.

Unit 12 Markets and exchanges Text 1: Shares and stocks in the uk

The capital of a limited company is divided into shares which may be in units of various value, like 1 pound sterling or more, or of 0.50, 0.25, or of as little as 0.05. Shares are not divisible. Shares are of two main types:

• ordinary shares

• preference shares

Ordinary shares generally carry no fixed rate of dividend but receive a dividend dependent on the amount of net profit earned by the company.

Preference shares generally carry a fixed rate of dividend which is payable before the dividend on the ordinary shares is paid.

There are some other types of shares. For example there are deferred ordinary shares which unlike ordinary shares carry a fixed rate of dividend.

There are a few types of preference shares. There are cumulative preference shares and participating preference shares, for instance. They give their holders additional privi­leges.

Shares can be grouped into units of 100. These units are known as stocks. Stocks are usually quoted per 100 nominal value. Stocks, unlike shares, are divisible. It means that fractions of stocks can be bought and sold. There are

• government stocks

• corporation stocks

• debentures etc.

Vocabulary

futures exchange capital ordinary share	ф’ючерсна біржа капітал звичайна акція
preference share	привілейована акція
deferred ordinary share	відстрочена акція
cumulative preference share participating preference share stock	кумулятивна привілейована акція привілейована акція участі акціонерний
unit to carry dependent	одиниця, пай приносити (дохід) залежний
to group fraction	групувати частка
debenture	зобов’язання, боргова розписка

Exercises

1. Read and translate into Ukrainian:

1. Shares may be in units of various value, like one pound

sterling, half a pound, quarter of a pound etc.

2. The value can be as little as five pence.

3. Deferred ordinary shares unlike ordinary shares carry a

fixed rate of dividend.

4) As you know the capital of a limited company is divided

into shares.

5) Ordinary shares like preference ones are not divisible.

6) Stocks unlike shares are divisible.

7) The news from the Stock Exchange came as a great

shock.

8) They regard this company as their possible partner in

future.

2. Use the appropriate word (either like or as) and translate

the sentences:

1. It's a difficult problem. He never knows what to do in

situations ... this.

2. She once had a part-time job ... a sales-girl.

3. He has been learning Greek for a few years but he still

speaks ... a beginner.

4. Your English is very fluent. I wish I could speak ... you.

5. She speaks French ... a native speaker.

6. I'm afraid I cannot meet you tomorrow ... we arranged.