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To accrue preferred series distributions, you must set up a distribution rate. You can create, edit, delete, and list preferred shares distribution rates. The system calculates the distribution by multiplying the value of the preferred series by the daily distribution rate. You can also enter the ex-date, reinvestment date, record date, and pay date to the preferred series distribution rate record.
Distribution transaction adjustments occur when the system processes distributions. A distribution transaction adjustment occurs when you book a preferred stock transaction as a continuous issuance or a buyback, or when the system cancels a buyback or an issuance. Because the booking of preferred shares transactions affects the total value of the preferred shares, the system needs to automatically adjust the distribution amount to account for the change in the total preferred stock value. You can also make a manual adjustment to the a preferred distribution using the distribution adjustment panel. Users will also be allowed to enter ex-date, reinvestment date, record date and pay date to the preferred series record. Distribution rates can be added, changed, deleted and queried.Post Distribution Adjustment panel.