Definition of Special drawing rights (SDR)

Special drawing rights (SDR)

A form of international reserve assets, created by the IMF in 1967, whose
value is based on a portfolio of widely used currencies.

Appraisal rights

A right of shareholders in a merger to demand the payment of a fair price for their shares, as
determined independently.

Cum rights

With rights.

Dividend rights

A shareholders' rights to receive per-share dividends identical to those other shareholders receive.

Extra or special dividends

A dividend that is paid in addition to a firm's "regular" quarterly dividend.

Ex-rights

In connection with a rights offering, shares of stock that are trading without the rights attached.

Ex-rights date

The date on which a share of common stock begins trading ex-rights.

Liquidation rights

The rights of a firm's securityholders in the event the firm liquidates.

Property rights

rights of individuals and companies to own and utilize property as they see fit and to receive
the stream of income that their property generates.

Rights offering

Issuance of "rights" to current shareholders allowing them to purchase additional shares,
usually at a discount to market price. Shareholders who do not exercise these rights are usually diluted by the
offering. rights are often transferable, allowing the holder to sell them on the open market to others who may
wish to exercise them. rights offerings are particularly common to closed end funds, which cannot otherwise
issue additional common stock.

Rights-on

Shares trading with rights attached to them.

Special dividend

Also referred to as an extra dividend. Dividend that is unlikely to be repeated.

Specialist

On an exchange, the member firm that is designated as the market maker (or dealer for a listed
common stock). Only one specialist can be designated for a given stock, but dealers may be specialists for
several stocks. In contrast, there can be multiple market makers in the OTC market.

Voting rights

The right to vote on matters that are put to a vote of security holders. For example the right to
vote for directors.

With rights

Purchase of shares in which the buyer is entitled to the rights to buy shares in the company's
rights issue.

Specialized journals

Journals that are used to aid in segregating duties and making the accounting function efficient.

special order decision

a situation in which management must determine a sales price to charge for manufacturing or service jobs outside the company’s normal production/service market

rights issue

Issue of securities offered only to current stockholders.

SDR

special drawing right, the name given to the "currency" of the IMF.

Uniformed Services Employment and Reemployment Rights Act of 1994

A federal act that minimizes the impact on people serving in the Armed Forces
when they return to civilian employment by avoiding discrimination and increasing
their employment opportunities.

Special Items

Significant credits or charges resulting from transactions or events that, in the
view of management, are not representative of normal business activities of the period and that
affect comparability of earnings. This term is often used interchangeably with nonrecurring
items.

Special Charges

Nonrecurring losses or expenses resulting from transactions or events which,
in the view of management, are not representative of normal business activities of the period and
which affect comparability of earnings.

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