Business and Personal Finance Dictionary

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• AMERICAN DEPOSITORY RECEIPT (ADR)
  
  ADRs are negotiable securities representing ownership of the stock of foreign corporations. U.S. banks hold the receipts in depository form, entitling investors to all dividends and capital gains. Even though ADRs do not represent direct ownership of the underlying shares, the certificate, transfer and settlement processes for ADRs are identical to those of U.S. securities. Also known as American Depository Shares.
  
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