BUSAD 120 Lecture Notes - Lecture 25: Issued Shares, Chief Operating Officer, Stock Certificate
Document Summary
Officers: responsible for the day-to-day running of the company. They are mandataries of the company: must be a human being, officers are the senior employees of the company: president (ceo), vice- President (coo), treasurer (cfo) and secretary (corporate council) Shareholders have limited liability (qbca s. 224, cbca s. 45(1)): only liable to pay for their shares, shareholders not personally liable for the company"s debts. Common shares (also known as class a shares) (cbca s. 24(3), qbca s. 44, s. 47): Shares are issued to generate working capital for the company, get more money to use for their own operations, investments, etc. P/s prior to paying dividends to c/s shareholders. Dividends: surplus profits to shareholders at the discretion of the directors of the company. Remember a p/s dividend is an amount which has been fixed in advance: participating: p/s will be counted as c/s and receive a second dividend (as if they were c/s) after having first received the preferred fixed dividend.
