Quyeàn ñöôïc höôûng coå töùc coå töùc

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+ Quyeàn ñöôïc höôûng coå töùc: . Coå töùc cao hay thaáp phuï thuoäc vaøo hieäu quaû kinh doanh cuûa coâng ty , Tyû leä chia coå töùc do Hoäi ñoàng quaûn trò quyeát ñònh. . Coå töùc coù theå ñöôïc traû baèng tieàn hoaëc baèng coå phieáu môùi.
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PGS.TS Nguyeãn Ñaêng Dôøn + Quyeàn ñöôïc mua coå phieáu môùi Coå ñoâng ñöôïc quyeàn mua coå phieáuphaùt haønh boå sung (nhôø ñoù coå ñoâng vaãn duy trì tyû leä voán coå phaàn naém giöõ). Coå ñoâng coù theå baùn quyeàn naøy cho ngöôøi khaùc trong hoaëc ngoaøi coâng ty. * Coå phieáu öu ñaõi (Preferred Stock) Coå phieáu öu ñaõi laø coå phieáu coù möùc coå töùc ñöôïc aán ñònh hoaëc ñöôïc nhaän coå töùc tröôùc coå phieáu phoå thoâng. Coå ñoâng naém giöõ coå phieáu öu ñaõi khoâng ñöôïc tham gia ñaïi hoäi coå ñoâng, khoâng ñöôïc boû phieáu vaø caùc quyeàn lôïi khaùc khaùc nhö coå ñoâng naém giöõ coå phieáu phoå thoâng.
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PGS.TS Nguyeãn Ñaêng Dôøn c. Lôïi töùc cuûa coå phieáu * Coå töùc : Tyû leä phaân chia coå töùc do HÑQT quyeát ñònh * Laõi voán ( thaëng dö voán) : giaù baùn coå phieáu > giaù mua d. Caùc loaïi giaù cuûa coå phieáu * Meänh giaù (Par Value – PV) : Giaù trò ghi treân coå phieáu goïi laø meänh giaù * Thö giaù (Book Value): Giaù trò cuûa coå phieáu theo soå saùch keá toaùn – Thö giaù phaûn aùnh tình traïng voán cuûa coâng ty.
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PGS.TS Nguyeãn Ñaêng Dôøn Ví duï: - Soá luôïng coå phaàn cuûa coâng ty laø : 10 trieäu CP. Coå phieáu coù meänh giaù :10.000 - Voán coå phaàn cuûa coâng ty A tính theo meänh giaù laø 100 tyû VND - Thaëng dö voán cuûa coâng ty laø 80 tyû VND. Trong ñoù : . - Quyõ tích luõy töø lôïi nhuaän 20tyû - Thaëng dö voán 60 tyû Ta coù : - Toång voán coå phaàn theo soå saùch keá toaùn laø 180 tyû VND - Toång soá coå phieáu ñöôïc phaùt haønh 10 trieäu - Thö giaù cuûa coå phieáu = 180 tyû 10 trieäu CP = 18.000 ñ/CP
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PGS.TS Nguyeãn Ñaêng Dôøn * Hieän giaù (Present Value) : Giaù trò hieän taïi cuûa coå phieáu * Thò giaù (Market Value) : Giaù cuûa coå phieáu treân thò tröôøng. MV = T uni1EF7 leä Giaù coå phieáu/ Thu nhaäp=P/E (Price Earning ratio ) Thöïc teá thò giaù coå phieáu bò aûnh höôûng bôûi nhieàu nhaân toá: Coå töùc mong ñôïi Laõi suaát tieàn göûi NH (lyù thuyeát) - Tyû leä phaân chia coå töùc. - Tình hình kinh doanh vaø keá hoaïch phaùt trieån cuûa coâng ty vaø yeáu toá thò tröôøng. - Cung – caàu veà coå phieáu - Laõi suaát treân thò tröôøng tieàn teä - Nhaân toá khaùc ( Kinh teá taøi chính ,chính trò, quaân söï…)
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PGS.TS Nguyeãn Ñaêng Dôøn 4.2. Traùi phieáu (Bonds) a. Caùc khaùi nieäm * Traùi phieáu : - Chöùng chæ hoaëc buùt toaùn ghi soå xaùc nhaän quyeàn vaø lôïi ích hôïp phaùp cuûa ngöôøi sôû höõu traùi phieáu ñoái vôùi taøi saûn hoaëc voán cuûa toå chöùc phaùt haønh.
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  • Fall '13

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