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fractional share

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Fractional share
Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs.
fractional share
Less than one share of stock, that is, one-third or one-half a share. Fractional shares are generally created from dividend reinvestment plans or stock dividends. For example, if a firm's directors declare a 2% stock dividend, an owner of 70 shares would be entitled to 1.4 additional shares. Because corporations do not issue certificates including fractional shares, the stockholder would receive one share and the cash equivalent for the fractional share. Fractional shares are credited to dividend reinvestment plans.
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Buying a jet, or even a fractional share of one, can run well into the millions and require a multiyear commitment.
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In lieu of any fractional share otherwise issuable to any holder in respect of the conversion, the Corporation will pay an amount, in cash, to the holder thereof equal to the same fraction of the current market price of a share of common stock (current market price calculated as the average of the daily closing prices for the five consecutive trading days prior to December 1, 2006).
Hess Corporation Mandatory Conversion of Preferred Stock by Business Wire
If the aggregate number of shares of the company's common stock a shareholder would otherwise receive in the special distribution consists of a fractional share or a whole number of shares plus a fractional share, such shareholder will receive, in lieu of that fractional share, an amount of cash equal to the market value of that fractional share determined for purposes of the special distribution as described above.
Longview Fibre Company Announces Last Two Significant Steps toward ... by Business Wire
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