stated capital

Legal Capital

The par value of all of a company's shares outstanding. Legal capital may not be distributed as dividends, or as anything else. It is also called stated capital.

stated capital

References in periodicals archive ?
The major changes in the capital base are that deferred federal income taxes are no longer specifically excluded from taxation, and only taxpayers whose combined stated capital and surplus is less than $1 million may make the election to use Federal income tax accounting methods in determining surplus (Section 171.
The Shareholders also approved the reduction in Gowest's stated capital and the distribution of all of the Trade Winds Shares to Shareholders on a pro rata basis.
12 /PRNewswire/ -- Alabama Power Company today closed the sale of 1,250 shares, $125,000,000 aggregate stated capital of Flexible Money Market Class A Preferred Stock (2003A Series), Cumulative, Par Value $1 Per Share (Stated Capital $100,000 Per Share) according to William B.
The shareholders also approved the reduction of the stated capital account for the Corporation's common shares by up to CDN$29,706,623.
or such other name as may be approved by the board of directors of Northfield and applicable regulatory authorities; (ii) an amendment to the articles of the Corporation to consolidate the issued and outstanding common shares of Northfield on the basis of up to 60 old shares for one new share, with the actual consolidation ratio presently being implemented by the board of directors is 40 old shares for one new share; and (iii) an amendment to the stated capital whereby the stated capital will be reduced by the amount of the aggregate deficit of the Corporation being an amount not represented by the realizable assets of the Corporation.
Two other items- a reduction in the Company's stated capital account for common shares, and the approval and ratification of a shareholder rights plan - will also be submitted to a shareholder vote at the meeting.
Argus has reduced the stated capital attributed to each of its Common Shares (the "Common Shares") and Class C Participating Non-Voting Preference Shares (the "Class C Shares").
At a special meeting held today, BCE Emergis shareholders approved a first reduction in stated capital of $150 million to allow for the declaration of the one-time special cash distribution of $1.
30% class A preferred stock at a stated capital price of $25 per share (preferred shares).
The first resolution requests shareholder authorization to reduce the stated capital account of Corel's Common Shares and Series A Participating Convertible Preferred Shares, the approval of which has no impact on the financial statements of the company.
Pursuant to a debt settlement agreement made as of February 28, 1997, the Company issued 1,084,370 common shares to the debt holder, at a stated capital of $0.
These preferred shares include a priority right to a cumulative dividend as of the fifth anniversary of their issue equal to 8 percent of the stated capital, and for the sixth and seventh years following their issue, a priority right to a cumulative dividend corresponding to 15 percent of the stated capital.