查询词典 dividends

The holders of stock shall according to the amount of the stock held by them have the same rights , privileges and advantages as regards dividends , voting at meeting 5 of the company and other matters as if they held the shares from which the stock arose , but no such privilege or advantage ( except participation in the dividends and profits of the company and in the assets on winding up ) shall be conferred by any such aliquot part of stock which would not if existing in shares have conferred that privilege or advantage .

三十七、证券持有人应按所持证券的数额，享有如同持有转换证券的股票的股东享有的有关红利分配、在公司会议上投票以及就其他事项的权利和特权，但部分证券持有权不赋有此种特权或权益（除参与公司红利和利益的分配以及参与公司解散时的资产分配外），因为即使是部分股票持有权也不赋有此种特权或权益。

The holders of stock shall according to the amount of the stock held by them have the same rights , privileges and advantages as regards dividends , voting at meetings of the company and other matters as if they held the shares from which the stock arose , but no such privilege or advantage （ except participation in the dividends and profits of the company and in the assets on winding up ） shall be conferred by any such aliquot part of stock which would not if existing in shares have conferred that privilege or advantage .

三十七、证券持有人应按所持证券的数额，享有如同持有转换证券的股票的股东享有的有关红利分配、在公司会议上投票、以及就其他事项的权利和特权，但部分证券持有权不赋有此种特权或权益（除参与公司红利和利益的分配以及参与公司解散时的资产分配外），因为即使是部分股票持有权也不赋有此种特权或权益。

The holders of stock shall according to the amount of the stock held by them have the same rights, privileges and advantages as regards dividends, voting at meetings of the company and other matters as if they held the shares from which the stock arose, but no such privilege or advantage (except participation in the dividends and profits of the company and in the assets on winding up) shall be conferred by any such aliquot part of stock which would not if existing in shares have conferred that privilege or advantage.

三十七、证券持有人应按所持证券的数额，享有如同持有转换证券的股票的股东享有的有关红利分配、在公司会议上投票、以及就其他事项的权利和特权，但部分证券持有权不赋有此种特权或权益(除参与公司红利和利益的分配以及参与公司解散时的资产分配外)，周为即使是部分股票持有权也不赋有此种特权或权益。

There is an element of double taxation in the corporate form if the corporation pays dividends on its stock. Income to the corporation is taxed at the corporate level and, if dividends are paid to shareholders, such dividends are taxed again as income to the individual shareholders.

公司分派股息时，存在双重纳税情形，公司收入需要征收公司所得税，而分派给股东的股息作为股东的收入会再次征税。

At present inflation rates, we believe individual owners in medium or high tax brackets (as distinguished from tax-free entities such as pension funds, eleemosynary institutions, etc.) should expect no real long-term return from the average American corporation, even though these individuals reinvest the entire after-tax proceeds from all dividends they receive. The average return on equity of corporations is fully offset by the combination of the implicit tax on capital levied by inflation and the explicit taxes levied both on dividends and gains in value produced by retained earnings.

而以目前的通货膨涨率来看，我们相信对适用中高级距所得税率的投资人而言(除非你是透过退休基金、慈善团体等免税机构来投资)，将无法从投资一般美国企业获得任何实质的资本利得，即使他们把分配到的股利一再重复地投资下去也一样，因为其获利早已被隐藏的通货膨涨与台面上的所得税给吸收殆尽。

Thus, should we own 10% of Corporation X with earnings of $10 million in 1980, we would report in our earnings (ignoring relatively minor taxes on intercorporate dividends) either $1 million if X declared the full $10 million in dividends;$500,000 if X paid out 50%, or $5 million, in dividends; or zero if X reinvested all earnings.

最后若是持股比例低于20%，则依照会计原则，投资公司仅能认列被投资公司实际发放的股利部份，至于保留而不发放的部份盈余则不予理会，也因此假若我们持有一家X 公司10%的股份，又假设X公司在1980 年共计赚了1，000万美金，若X公司将盈余全部发放，则我们可认列100万的利益，反之若X公司决定保留全部盈余不予发放，则我们连一毛钱都不能认列。

In addition, on pages 63 - 69, we have rearranged Berkshire's financial data into four segments on a non-GAAP basis, a presentation that corresponds to the way Charlie and I think about the company. Look-Through Earnings Reported earnings are an inadequate measure of economic progress at Berkshire, in part because the numbers shown in the table presented earlier include only the dividends we receive from investees -- though these dividends typically

有关其它关系企业的信息大家可以在 39-54 页找到，包含依照一般公认会计准则编制的部门别信息，此外在 63-69 页，你还可以找到经过重编，依照伯克希尔四大部门编排的信息(非按一般公认会计准则编制)，这是查理跟我认为最能够完整呈现伯克希尔现况的模式。

Look-Through Earnings Reported earnings are a poor measure of economic progress at Berkshire, in part because the numbers shown in the table presented earlier include only the dividends we receive from investees -- though these dividends typically represent only a small fraction of the earnings attributable to our ownership. Not that we mind this division of money, since on balance we regard the undistributed earnings of investees as more valuable to us than the portion paid out.

完整透视盈余我们认为帐列盈余很难表现伯克希尔实际的营运状况，部份原因在于列示在本公司帐上的股利收入，事实上仅占被投资公司收益的一小部份，其实我们并不要求盈余一定要分配，事实上对我们而言，我们更重视未分配的那一部份，因为他们极可能为我们创造出更高的价值，原因很简单，因为我们的被投资公司往往比母公司更有机会把资金投入到高投资报酬的用途之上，既然如此又何必一定要强迫他们把盈余分配回来呢？

Compounding is the way your investment grows as it earns returns on your initial money invested and on the interest or dividends earned. If you plow dividends back into your portfolio, the power of compounding can be truly amazing.

有的行家还说一些公司允许投资者绕过市场和经纪以免佣或只收低手续费的方式定期按市价追加投资于公司的股份之中以放大收益，可以当作Miller入息机器的第三种动力来源。

An arguably worrying development has been the rise in "leveraged recaps with equity dividends", whereby a recently acquired company borrows heavily in order to pay a large dividend to its new owner.

一个明显让人担心的发展趋势是&红利形式的杠杆资本重组&（leveraged recaps with equity dividends 的流行，因此最近一家最收购的公司要借巨债付给新东家一笔巨额红利）。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。