Dictionary of Finance and Investment Terms: no-par-value stock
no-par-value stock
stock with no set (par) value specified in the corporate charter or on the stock certificate; also called no-par stock. Companies issuing no-par value shares may carry whatever they receive for them either as part of the capital stock account or as part of the capital surplus (paid-in capital) account, or both. Whatever amount is carried as capital stock has an implicit value, represented by the number of outstanding shares divided into the dollar amount of capital stock.
Most stock issued today is either no-par or low-par value.
