Business and Personal Finance Dictionary

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• SCRIP
  
  Scrip is a certificate or receipt that represents something of value but has no intrinsic value. For example, after a corporate stock split or spin-off, a company might issue scrip representing a fractional share of stock for each existing share you own. On or before a specific date, you can convert the value they represent into full shares. What's essential is that the issuer and the recipient must agree on the value that the scrip represents.
  
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