Daily Dividend Fund definition

Daily Dividend Fund means any company that has a policy of declaring distributions of net income daily, in- cluding any money market fund that determines net asset value using the amortized cost method permitted by§ 270.2a–7;(ii) Fund ide Expenses means ex- penses of the company not allocated to a particular class under paragraph (a)(1) of this section;(iii) The Settled Shares Method means allocating to each class based on rel- ative net assets, excluding the value of subscriptions receivable; and(iv) The Simultaneous Equations Meth- od means the simultaneous allocation to each class of each day’s income, re- alized gains and losses, unrealized ap- preciation and depreciation, and Fundwide Expenses and reallocation to each class of undistributed net invest- ment income, undistributed realized gains or losses, and unrealized appre- ciation or depreciation, based on the operating results of the company, changes in ownership interests of each class, and expense differentials be- tween the classes, so that the annualized rate of return of each class generally differs from that of the other classes only by the expense differen- tials among the classes.(d) Any payments made under para- graph (a) of this section shall be made pursuant to a written plan setting forth the separate arrangement and ex- pense allocation of each class, and any related conversion features or ex- change privileges. Before the first issuance of a share of any class in reli- ance upon this section, and before any material amendment of a plan, a ma- jority of the directors of the company, and a majority of the directors who are not interested persons of the company, shall find that the plan as proposed to be adopted or amended, including the expense allocation, is in the best inter- ests of each class individually and the company as a whole; initial board ap- proval of a plan under this paragraph(d) is not required, however, if the plan does not make any change in the ar- rangements and expense allocations previously approved by the board under an existing order of exemption. Before any vote on the plan, the directors shall request and evaluate, and any agreement relating to a class arrange- ment shall require the parties thereto to furnish, such information as may be reasonably necessary to evaluate the plan.(e)(1) A majority of the directors of the investment company are not inter- ested persons of the company, and those directors select and nominate any other disinterested directors of the company; and(2) A...
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Examples of Daily Dividend Fund in a sentence

  • To determine the Investment Adviser's liability with respect to the Excess Amount for Funds that accrue daily dividends (a "Daily Dividend Fund"), each day the Fund Operating Expenses shall be annualized as of that day for each class of a Daily Dividend Fund.

  • Income of a Daily Dividend Fund will be allocated to each class of shares of such Fund on the basis of settled shares of each class in relation to the net assets of the Fund.

  • Accordingly, shares of the Daily Dividend Funds attributable to subscription receivables participate in capital gain dividends declared by a Daily Dividend Fund and participate in unrealized appreciation/depreciation in a Daily Dividend Fund.

  • In the case of a Daily Dividend Fund, all other expenses will be allocated to each class based on the Settled Shares Method as defined in paragraph (c) of Rule 18f-3.

  • NBP Islamic Daily Dividend Fund was launched on November 01, 2019.

  • Except in the case of a Fund that is a "Daily Dividend Fund" as defined in paragraph (c) of Rule 18f-3, all other expenses will be allocated to each class on the basis of the relative net asset value of that class in relation to the net asset value of the Fund.

  • Realized and unrealized gains and losses of a Non- Daily Dividend Fund will be allocated to each class of shares of such Fund on the basis of the net asset value of each such class in relation to the net asset value of the Fund.

  • To determine the Subdviser's liability with respect to the Excess Amount for Funds that accrue daily dividends (a "Daily Dividend Fund"), each day the Fund Operating Expenses shall be annualized as of that day for each class of a Daily Dividend Fund.

  • For these purposes: Daily Dividend Fund means a Fund that has a policy of declaring, distributions of net income daily, including any money market fund that operates in compliance with Rule 2a-7 under the 1940 Act.

  • To each class based on the Settled Shares Method, provided that the Fund is a Daily Dividend Fund (such a Fund may allocate income and Fundwide Expenses based on the Settled Shares Method and realized gains and losses and unrealized appreciation and depreciation based on relative net assets.

Related to Daily Dividend Fund

  • Accumulated Dividends means, with respect to any share of Preferred Stock, as of any date, the aggregate accumulated and unpaid dividends on such share from the Issue Date until the most recent Dividend Payment Date on or prior to such date. There shall be no Accumulated Dividends with respect to any share of Preferred Stock prior to the first Dividend Payment Date.

  • Ex-Dividend Date means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  • Quarterly Dividend Period means the quarterly period commencing on and including a Dividend Payment Date and ending on and including the day immediately preceding the next subsequent Dividend Payment Date.

  • Ex-Dividend Time means, with respect to any distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the principal securities market on which the shares of Common Stock are then traded without the right to receive such distribution.

  • 7-Day Dividend Period means a Dividend Period consisting of seven days.

  • Initial Dividend Rate means, with respect to a series of APS, the rate per annum applicable to the Initial Dividend Period for such series of APS.

  • Applicable Dividend Rate means (i) during the period from the Original Issue Date to, but excluding, the first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 5% per annum and (ii) from and after the first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 9% per annum.

  • Regular Dividend means USD 0.20 per Share per quarter. Upon any adjustment to the “Initial Dividend Threshold” (as defined in the Indenture) for the Convertible Notes pursuant to the Indenture, the Calculation Agent will make a corresponding adjustment to the Regular Dividend for the Transaction.

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Initial Dividend Payment Date means the Initial Dividend Payment Date as determined by the Board of Directors of the Corporation with respect to the AMPS or Other AMPS, as the case may be.

  • Dividend Rate has the meaning set forth in the Statement.

  • Preferred Stock Dividends means all dividends with respect to Preferred Stock of Restricted Subsidiaries held by Persons other than the Company or a Wholly Owned Restricted Subsidiary. The amount of any such dividend shall be equal to the quotient of such dividend divided by the difference between one and the maximum statutory federal income rate (expressed as a decimal number between 1 and 0) then applicable to the issuer of such Preferred Stock.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Floating Quarterly Dividend Rate means, for any Quarterly Floating Rate Period, the rate of interest (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the T-Bill Rate on the applicable Floating Rate Calculation Date plus 1.60% (calculated on the basis of the actual number of days elapsed in such Quarterly Floating Rate Period divided by 365).

  • Special Dividend Period means a Dividend Period consisting of (i) a specified number of days (other than seven), evenly divisible by seven and not fewer than seven nor more than 364 or (ii) a specified period of one whole year or more but not greater than five years (in each case subject to adjustment as provided in paragraph 2(b)(i)).

  • Preferred Dividends means, with respect to any Person, dividends or other distributions which are payable to holders of any Equity Interests in such Person which entitle the holders of such Equity Interests to be paid on a preferred basis prior to dividends or other distributions to the holders of other types of Equity Interests in such Person.

  • Common Stock Dividend means a stock dividend declared and paid on the Common Stock that is payable in shares of Common Stock.

  • Accrued Dividends means, with respect to any share of Preferred Stock, as of any date, the accrued and unpaid dividends on such share from and including the most recent Dividend Payment Date (or the Issue Date, if such date is prior to the first Dividend Payment Date) to but not including such date.

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Dividend Payment means dividends (in cash, Property or obligations) on, or other payments or distributions on account of, or the setting apart of money for a sinking or other analogous fund for, or the purchase, redemption, retirement or other acquisition of, any shares of any class of stock of the Company or of any warrants, options or other rights to acquire the same, but excluding dividends payable solely in shares of common stock of the Company.

  • Dividend Date means, in respect of a Preference Share, a date specified in the Issue Resolution on which a Dividend in respect of that Preference Share is payable.

  • Stock Dividend has the meaning set forth in Section 5(a)(i)(A).

  • Dividend Payout Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) the sum of, without duplication, of all dividends paid by the Parent Guarantor on account of any common stock or preferred stock of the Parent Guarantor, except dividends payable solely in additional Equity Interests of the same class, to (b) Funds From Operations, in each case for the four consecutive fiscal quarters of the Parent Guarantor most recently ended.

  • Initial Dividend Period means the dividend period commencing on the Issue Date and ending on the first Dividend Payment Date to occur thereafter.

  • Extraordinary Dividend means any cash dividend or distribution (or portion thereof) that the Calculation Agent determines, in its sole discretion, is extraordinary or special; and

  • Dividend Payment Date means February 15, May 15, August 15 and November 15 of each year.