An American depositary receipt (ADR) is a negotiable security that represents securities of a non-US company that trade in the US financial markets. Securities of a foreign company that are represented by an ADR are called American depositary shares (ADSs).
Shares of many non-US companies trade on US stock exchanges through ADRs. ADRs are denominated and pay dividends in US dollars and may be traded like regular shares of stock. Over-the-counter ADRs may only trade in extended hours.
The first ADR was introduced by J.P. Morgan in 1927 for the British retailer Selfridges.
Read more about American Depositary Receipt: Depositary Receipts, ADR Programs (facilities), Sourcing ADRs, ADR Termination
Famous quotes containing the words american and/or receipt:
“... many American Jews have a morbid tendency to exaggerate their handicaps and difficulties. ... There is no doubt that the Jew ... has to be twice as good as the average non- Jew to succeed in many a field of endeavor. But to dwell upon these injustices to the point of self-pity is to weaken the personality unnecessarily. Every human being has handicaps of one sort or another. The brave individual accepts them and by accepting conquers them.”
—Agnes E. Meyer (1887–1970)
“You must think I am a high-priced man.... Fifteen dollars is enough for the job. I send you a receipt for fifteen dollars, and return to you a ten-dollar bill.”
—Abraham Lincoln (1809–1865)