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Gearing range

An indication of the maximum and minimum levels that the company would expect to be geared in normal market conditions.


Ways in which investment companies can magnify income and capital returns, but which can also magnify losses.

Financial year

The period, normally 12 months, leading up to the financial year end

Ex dividend

Also shown as ‘ex div’ or ‘xd’, this means that, if you buy the shares today, you won’t receive the most recently declared dividend.

Dividend yield

The annual dividends expressed as a percentage of the current share price.  This may be partially based on estimates or forecasts.


Income from an investment in shares.