dividend equivalent right

Dividend Equivalent Right

In some employee stock options, the right of a shareholder to take more shares in the company for which he/she works in lieu of dividends on the shares he/she already holds.

dividend equivalent right

In incentive stock options, the right to a credit for additional shares for the value of dividends a firm pays on its shares.
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The 2010 Plan permits the granting of a variety of awards, including stock options, share appreciation rights, restricted shares, restricted share units, unrestricted shares, deferred share units, performance and cash-settled awards, and dividend equivalent rights.
In connection with the declaration of the special dividend, the Board of Directors approved certain dividend equivalent rights, clarifying that holders of other Schiff equity awards, including stock options and certain restricted stock units, will receive dividend equivalents in the form of cash on each share underlying the stock options and restricted stock units.
The Board of Directors has adopted a Dividend Equivalent Rights policy, allowing holders of Domino's stock options to receive dividend equivalents in the form of cash on each share underlying vested options through 2007.
Three Months Ended March 31, 2005 2004 (in thousands) GAAP net income $18,969 $10,800 Adjustments to GAAP net income: Amortization of organizational costs (8) (8) Addback unvested stock compensation expense for unvested options 1 2 Addback of stock compensation expense for unvested restricted common stock 507 161 Subtract stock compensation expense for vested restricted stock (106) -- Addback/(subtract) net hedge ineffectiveness (gains)/losses on futures and interest rate swap contracts (708) 10 Subtract dividend equivalent rights on restricted stock (182) (12) Subtract amortization of net realized gains on futures contracts (4,728) -- Subtract net realized losses on futures contracts (4) (412) Net adjustments to GAAP net income/(loss) (5,228) (259) REIT taxable net income $13,741 $10,541
The inflated price also allowed officers of Capstead to exchange their Dividend Equivalent Rights for $23.
In connection with the declaration of the special dividend, the Board of Directors approved certain dividend equivalent rights, allowing holders of other Schiff equity awards, including stock options and restricted stock units, to receive dividend equivalents in the form of cash on each share underlying the stock options and restricted stock units.
Additionally, as a result, of a new accounting pronouncement, dividends of $169,000 paid on unvested restricted stock were expensed in 2006 whereas similar dividends of $228,000 paid in 2005 were not expensed, and dividend equivalent rights of $363,000 paid in the 2006 first quarter were not expensed whereas $363,000 of dividend equivalent rights paid in the 2005 first quarter were expensed.
REIT income was lower in the second quarter of 1997 as compared to the same period in 1996 primarily because 1996 results include $1,539,000 of income from two CMBS bonds which were redeemed in May 1996 offset by a $966,000 one-time, non-cash charge to earnings for the elimination of dividend equivalent rights under the Company's stock option plan.
The decline in 2004 was attributable primarily to (a) the expense of stock awarded under the 2003 recognition and retention plan approved by the stockholders in August 2003 ($690,000, or $401,000 on an after tax basis), (b) the expensing of dividend equivalent rights resulting from the payment of a $0.
Our REIT income in 1996 was higher than 1995 primarily due to the accelerated amortization income from the previously announced bond redemption in May 1996 and other mortgage prepayments during the year offset by a one- time, non-cash charge resulting from the issuance of the Company's common stock pursuant to the elimination of all dividend equivalent rights approved by the shareowners in the 1996 annual meeting," commented Leslie Fox, President.
The Company issues stock options to employees, the majority of which have dividend equivalent rights.
03 per share, relating to the elimination of dividend equivalent rights, were $9,673,000, or $.