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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 ?
If there is no change in that decision it means that giftcard holders will become unsecured creditors, and stand to lose the great majority of the money put on the card.
Yi Tao said, "The combined effort of the two parties gives birth to the Lukfook Jewellery Giftcards. The move drives PRC tourists to spend and promotes the tourism industry of Hong Kong., which is active in both the plastic and digital gift card areas and sells its gift cards via its eponymous website, said the acquisition would allow it to build a digital and mobile commerce platform in the gift card sector.
The idea is that the giftcards are then used to pay for everyday purchases at a host of high street stores, or treats out to restaurants and the cinema.
Winners: 15 winners each win pounds 100 Tesco clothing vouchers in the form of a giftcard.
One lucky shopper wins Dh5,000 in GiftCards daily by simply shopping for a minimum of Dh150 at either of the two malls.
Prize is not valid against the purchase of financial services, Debenhams food services, cash, gift vouchers or giftcards or in payment of any outstanding account balance.
Giftcards, however, reveal everything: they tell the recipient what you think they are worth, in cold cash.
Make new gaming friends as you compete to score and win AED1,000 worth mall GiftCards throughout the season and the grand prize of AED50,000 on July 14.
22 May 2013 - US gift cards company LLC said it agreed today to take over domestic mobile gifting app provider Giftly Inc, without disclosing the value of the transaction.
STARTING today and every day until Friday, we're giving away giftcards and vouchers from some of our favourite fashion retailers so that you can shop until you drop.