Page 55 - PRIAA Glossary

DIVIDEND YIELD
Represented as a percentage and used by investors to compare stocks on the basis of dividend payouts as a percentage of the stock price. To maximise cash flows from dividends, investors will select stocks with high dividend yields. A valuable financial ratio when constructing an equity portfolio where a key objective is maximising cash flows.
DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT (DODD-FRANK ACT)
Law drafted in the wake of the 2008 financial crisis and designed primarily to promote the financial stability of
the United States via improved regulation of the financial services industry and particularly over-the-counter (OTC) derivative products. The key aims of the legislation are to improve accountability and transparency in the financial system, to end the mindset that certain institutions are “too big to fail,” to protect the American taxpayer by ending bailouts and to protect consumers from abusive financial services practices.
DOUBLE HULL
A hull design in which a vessel has an inner and an outer skin separated by void spaces, usually two meters in width. In this design, the void spaces are normally used for the carriage of water ballast when the vessel is not loaded. The cargo tanks are inboard of the void spaces thus having some measure of protection should the vessel’s hull be penetrated.
DOWN-VARIANCE SWAP
A conditional variance swap which accrues realised volatility only when the previous day’s underlying price is below a pre-specified level.
DRY GAS
Natural gas that primarily consists of methane. The United States defines dry gases as those that contain less than 0.1 gallon of condensables per 1,000 cubic feet of produced gas.
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