Business Dictionary :
Yard, Year, Yellow Pages, Yen and Yield

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Yard : noun :

(a) measure of length (= 0.91 metres)

NOTE : This can be written yd after figures. (10yd)

(b) factory which builds ships

yd : Yard

Year : noun : period of twelve months

Calendar Year = year from January 1st to December 31st.

Financial Year = the twelve month period for a firm's accounts

Fiscal Year = twelve month period on which taxes are calculated (in the UK it is April 6th to April 5th of the following year)

Year End = the end of the financial year when a company's accounts are prepared

• The accounts department has started work on the year-end accounts.

Yearbook : noun : reference book which is published each year with updated or new information

Yearly : adjective : happening once a year

• Yearly payment

• Yearly premium of £250

Yellow Pages : plural noun : section of a telephone directory (printed on yellow paper) which lists businesses under various headings (such as computer shops or newsagents, etc.)

Yen : noun : money used in Japan

NOTE : usually written as Y before a figure Y2, 700 (say two thousand seven hundred yen)

Yield : noun : money produced as a return on an investment

Current Yield = dividend calculated as a percentage of the price paid per share

• Share with a current yield of 5%

Dividend Yield = dividend expressed as a percentage of the price of a share

Earnings Yield = money earned in dividends per share as a percentage of the market price of the share

Effective Yield = actual yield shown as a percentage of the price paid

Fixed Yield = fixed percentage return which does not change

Gross Yield = profit from investments before tax is deducted

Yield : verb : to produce (as interest or dividend, etc.)

• Government stocks which yield a small interest

• Shares which yield 10%

QUOTE : If you wish to cut your risks you should go for shares which yields higher than average. (Investors Chronicle)

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