Dividend, the income payable to a shareholder. Only some of the profit reaped by the joint-stock company is distributed as dividends, the remainder being used for accumulation, the payment of government taxes, etc. The size of the dividend depends on the profit and on the number of shares issued and, as a rule, exceeds the loan interest. This makes share purchases attractive for owners of money capital. The bulk of the income in the form of dividends is paid to tycoons of the financial oligarchy, who hold most of the shares. The amount paid as a dividend on common shares depends on the profit received by the stock company in the current year, while the amount paid for preference snares is set up as a fixed percentage, independent of current profits. If the company is liquidated, the holders of preference shares receive the funds they invested at par value. The size of the dividend is very sensitive to market fluctuations. It varies most during economic crises of overproduction and ensuing stock market collapses.