Take care of business at GlenFed; who goofed at Glendale-based GlenFed Inc.?Take care of business at Glenfed WHO GOOFED AT GLENDALE-BASED GLENFED INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. .? The parent of Glendale Federal Savings has a dividend reinvestment plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. for stockholders. That is, each stockholder may opt to have Glenfed dividends reinvested in additional company shares instead of received as cash. Many companies long have offered dividend reinvestment programs. Some dividend reinvestment programs have the dividend disbursing agent Dividend Disbursing Agent A commercial bank or financial_institution that disburses dividend to the securityholders. Usually a Transfer Agent is also the Dividend Disbursing Agent. purchase the needed shares in the open market, which helps support the stock price. Other programs use the dividends to buy authorized but unissued shares directly from the company, thereby adding to its capital. Bolstering capital, of course, is one of the big issues in the savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. industry currently, and Glenfed expected to use the reinvested dividends to help do that. However, the company apparently overlooked what should be a minor housekeeping item -- to make sure enough shares are available for each dividend reinvestment period. After some company officer goofed on this simple task, stockholder-participants in the program were notified last week their dividends can be reinvested on only "a prorated basis." Refund checks, the notification continued, will be mailed for the portion of the dividends that couldn't be reinvested. To be sure, Glenfed's goof is small beside the enormous goofs at other savings institutions that have created the nation's S&L bailout crisis. Its cost has rocketed ever higher and by last week was being estimated at a half trillion dollars. Yet there's an old saying: If you take care of the little things
Little Things is an original novel based on the U.S. , the big ones Big Ones, released on November 1, 1994 is one of the many greatest hits albums by the American rock band Aerosmith, this one covering their biggest hits from the Geffen era (1987–1994). will take care of themselves. |
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