QUIPS


Also found in: Dictionary, Thesaurus, Acronyms.

Quarterly Income Preferred Securities

Preferred stock representing a portion of ownership in a limited partnership. The limited partnership is a subsidiary of another company and exists only for the purpose of issuing the QUIPS. The proceeds from QUIPS are lent to the partnership's parent company. These securities thus combine aspects of stocks and bonds; they mature on a quarterly basis and usually have a par value of $25. Returns on MIPS come out of the partnership's pretax earnings, and, therefore, can result in tax advantages.

QUIPS

References in periodicals archive ?
Since the QUIPS are evidenced only by book-entry on the records of the Depository Trust Company (DTC), payment of the redemption price will be made by JP Morgan Institutional Trust Services, as paying agent, without presentation of the QUIPS.
R) The DVD Game, gives a license to let your creativity run wild with the introduction of Quip It
The QUIPS were issued July 16, 1996 and represent preferred ownership interests in the assets of Entergy Louisiana Capital I.
As a result, the company reclassified the QUIPS to short-term and long-term debt and reclassified the distributions on the QUIPS to interest expense.
30, 2004, upon surrender of the QUIPS at the offices of the property trustee, as follows:
BFGoodrich Capital and The Bank of New York, the property trustee for the QUIPS, have determined that the redemption price listed in the original notice of redemption ($25.
Gavin Lewis, Head of Corporate Finance of MEPC Limited said "This program will enable us to continue purchasing QUIPS in the market from time to time, which we believe should be beneficial both to the company and to QUIPS investors.
MEPC Limited (The "Company") announced today that its Board of Directors has approved the renewal and enlargement of its repurchase programme from up to $25 million or approximately 12%, of the Company's outstanding 9 1/8% Cumulative Guaranteed Quarterly Income Preferred Securities (QUIPS), (Series A): to up to $40 million or approximately 19% of the QUIPS.