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A temporary document that represents a portion of a share of stock, often issued after a stock split or spin-off.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


1. A private sector substitute for currency. Historically, scrip was used in logging and mining communities dominated by a single company, and employees had to buy goods from the company store. Presently, it is more closely associated with gift certificates, gift cards, and re-loadable debit cards. Militaries also occasionally pay soldiers in scrip when they are on deployment. In Australia, buyout offers including stock in place of or in addition to cash are known as scrip bids. See also: Money.

2. An IOU from a publicly-traded company that is short on cash. Such a company pays dividends in scrip until it resolves its liquidity problems.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


A certificate that can be exchanged for a fractional share of stock. Scrip is distributed as the result of a spinoff, a stock dividend, or a stock split in which the stockholder would be entitled to a fractional share of stock. For example, the owner of a single share would receive scrip for one-half a share in the event the issuer declared a three-for-two stock split.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.


Scrip is a certificate or receipt that represents something of value but has no intrinsic value. What's essential is that the issuer and the recipient must agree on the value that the scrip represents.

For example, in the past, after a corporate stock split or spin-off, a company might issue scrip representing a fractional share of stock for each share you owned. On or before a specific date, you could combine the certificates and convert the value they represented into full shares.

But most companies today make a cash payment for fractional shares based on the closing price of the stock on a specific date.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
Consumer protection laws that bolster a gift card recipients' right to use the full value of a gift card are appropriate, and many states and U.S.
Google Play Gift Cards are available in the stores of Spice Hotspot, Vijay Sales, Planet M, Planet Mobile and Sangeetha Mobiles.
Customers who are effectively engaged and appropriately motivated will become an interested, captive audience when presented with a smart, targeted promotional gift card campaign.
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An added benefit of Klem's gift card program is the rich information available.
Gift Card has not only made this choice easier but it also helps in reciprocating the feeling of mutual gratification.
CardHub CEO Odysseas Papadimitriou explained that the site saw an opportunity among the millions of consumers who have gift cards or parts of gift card balances from retailers that might not be the largest or most sought after.
All qualifying products are marked as part of the "Earn Free Gift Cards" promotion.
Programs featuring travel awards, airline miles, hotel points, retail rewards, market research, employee incentives and sweepstakes promotions will have the ability to offer Bitcoin Gift Cards to their customers.