Scrip

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Scrip

A temporary document that represents a portion of a share of stock, often issued after a stock split or spin-off.

Scrip

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.

scrip

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.

Scrip.

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.

References in periodicals archive ?
With a wide variety of retailers in many different categories, a gift certificate can now be as personal as purchasing a product.
DonorsChoose North Carolina, the nonprofit web site where teachers and citizens connect to give North Carolina students the resources they need to learn, announced today that gift certificates are now available for the holidays.
Gift certificates can be purchased via The Gift Certificate Company's web site at www.
More and more businesses depend on gift certificates to boost sales as consumers increasingly opt to give certificates or gift cards in lieu of traditional gifts," said Stephanie Tilenius, vice president of merchant services for PayPal.
The success of an e-business is closely tied to the success of its marketing campaigns, and gift certificates are an important element of this," said Neil Midler, co-founder of Acert.
NBO's proprietary Gift Certificate and Ticketing Software System has been developed with state-of-the-art technology that will revolutionize the gift certificate and event/entertainment ticket industries, as they are known today.
In addition to merchant gift certificates, CardEx offers the "ultimate" gift certificate -- the CardEx MasterCard GiftCard, which lets recipients choose their rewards at any of the 16 million merchants worldwide that accept MasterCard.
An icon that reads "powered by ecount" will appear on every MSN eShop Gift Certificate page, every MSN eShop Gift Certificate and every MSN eShop Gift Certificate e-mail.
Universal mall gift certificates purchased may be redeemed at any store within the participating shopping centers.
Brookstone - gift certificate for a MAX 2 Cordless Dual-Node Percussion Massager
This bill requires that a gift certificate or credit memo sold or issued for consideration in this state may not have an expiration date, expiration period, or any post-sale charge or fee, such as a service charge, dormancy fee, account maintenance fee, or cash-out fee.
Any ALACE member * who refers someone to an ALACE training program--the Labor Assistant/ Birth Doula training or the Childbirth Education Program--will receive a $50 ALACE gift certificate ([dagger]).