DIVIDEND. See Arithmetic.
DivinEsn, in commerce, the propor tion of profits which the members of a society, or public company, receive at stated periods, according to the share they possess in the capital or common stock of the concern.
The term is likewise generally applied to the annual interest paid by govern ment on the various public debts, al though this is either a terminable or perpetual annuity, and in no respect a division of profits. In this sense, the or der by which stockholders receive their interest is called a dividend warrant, and the portions of interest unreceived are denominated unclaimed dividends.
The amount of unclaimed dividends re maining in the hands of the bank of Eng land, previous to the year 1750, seldom exceeded 50,0001. ; its increase since that period will appear from the following ex tract from an account laid before the House of 1. s. d.
On July 5, 1759 — 102,075 4 1769 = 227,928 6 2+ 1779 — 314,885 8 3+ 1789 — 547,366 16 6:1In 1791, an act was passed authorising the bank to advance, out of the u nclaimed dividends in their hands, 500,000/. fur the
public service ; with a provision, that if the sum in their hands should be reduc ed under 600,0001. the difference should be repaid them. In consequence of the publication of the names of the proprie tors of the dividends then unclaimed, a considerable part of them were received, and the sum advanced to government thus became only 376,7391. The amount of unclaimed dividends has accumulated considerably, being On April 1, 18Q6 . 1,235,265/. — July 1 . . . 1,003,599 — October 1 . . 1,067,778 — January 1, 1807 1,019,336 In consequence of this great increase, the bank, in 1808, advanced the further sum of 500,000/. for the public service, on condition that the balance in their hands, on this account, should never be reduced below 100,0001.