DATED DATE

Date from which interest begins to accrue for a bond or the date from which the holder of shares is entitled to receive a dividend.

DEBT ASSIMILATION

Technique enabling new debt to be issued by assimilating it in an existing issue with the same maturity, interest rate and nominal value.

DEBT SECURITY

All categories of security representing debenture loans.

DIRECT SALE

Over-The-Counter market, totally unrestricted, which was abolished and replaced by the Block-trade market.

DIRECT TRANSFER

A direct transfer can be defined as the transfer in ownership of a transferable security listed on the Stock Exchange between spouse, ascendants or descendants of direct kin or once removed, as well as arising from an inheritance or legacy, without any financial compensation or payment of whatever nature.

DIVIDEND

A portion of a company's earnings distributed to shareholders. Each share carries entitlement to a dividend.

DIVIDEND PAYOUT RATIO

The percentage of earnings paid to shareholders in dividends.