Bond Indenture

Illegal Dividend
An illegal dividend is a dividend declared by a corporation's board of directors in violation of its charter or state laws, typically including dividends paid out of capital surplus or those that would render the corporation insolvent.
Nonrefundable Bonds
Understanding the nonrefundable provision in bond indentures and how it impacts bondholders and issuers.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.