Corporate Action
This page introduce the different types of corporation action and sample data that we provide.
Quick Reference
Cash Dividend
Kaiko actionType: CASH_DIVIDEND
A cash dividend is a payment distributed to shareholders in cash, proportional to their shareholding. It is the most common form of dividend. Key fields include grossDividend (the per-share amount), currency, and dividendType which classifies the dividend as REGULAR, INTERIM, or FINAL.
Sample Response
Stock Dividend
Kaiko actionType: STOCK_DIVIDEND
A stock dividend pays shareholders in the form of additional shares rather than cash, in proportion to their existing holding. The distribution ratio is expressed via ratioOld and ratioNew — for example, 1:9 means one existing share yields nine additional shares. No grossDividend or currency field is present.
Sample Response
Stock Split
Kaiko actionType: STOCK_SPLIT
A stock split increases the number of shares outstanding by issuing new shares to current shareholders at a fixed ratio. Share price adjusts proportionally so market capitalization is unchanged. effectiveDate is the date on which the new share count takes effect.
Reverse Split
Kaiko actionType: REVERSE_SPLIT
A reverse split (consolidation) reduces shares outstanding by combining multiple existing shares into one new share. The inverse of a stock split — the ratio reflects how many old shares map to one new share. Typically used to lift a depressed share price above a minimum threshold.
Bonus
Kaiko actionType: BONUS
A bonus issue (also called a scrip issue or capitalisation issue) distributes additional shares to existing shareholders at no cost, proportional to their current holding. The ratio ratioOld:ratioNew defines the terms — for example, 1:3 means one existing share becomes three after the event.
Merger
Kaiko actionType: MERGER
A merger combines two companies into a single entity. The target company's shares are exchanged for acquirer shares or cash at a defined ratio. Key fields include the effective date, expected completion date, merger status (mrgrStatus), and the output security identifier (outSecId/outIsin).
Takeover
Kaiko actionType: TAKEOVER
A takeover is an offer by an acquirer to purchase shares of a target company, typically at a premium to the market price. Unlike a negotiated merger, a takeover may be unsolicited.
Spinoff
Kaiko actionType: SPINOFF
A demerger (spinoff) separates a division or subsidiary into an independent publicly listed entity. Existing shareholders typically receive shares in the newly formed company. WCA reports North American spinoffs as DMRGR (Demerger) events. Only effectiveDate is tracked as a CA-specific field.
Capital Reduction
Kaiko actionType: CAPITAL_REDUCTION
A capital reduction reduces a company's share capital by cancelling shares or lowering their par value. It is used to return cash to shareholders or eliminate accumulated losses from the balance sheet. The par value before (parValueOld) and after (parValueNew) the event are the primary tracked fields.
Rights Issues
Kaiko actionType: RIGHTS_ISSUE
A rights issue gives existing shareholders the right to purchase newly issued shares at a discounted price (issuePrice), in proportion to their current holding, within a defined subscription window. The subscription period is bounded by startSubscriptionDt and endSubscriptionDt. The right security itself is identified by rightIsin and rightSecId.
Entitlement
Kaiko actionType: ENTITLEMENT
An entitlement is a distribution of new securities (shares, options, or warrants) to existing shareholders without payment. Similar to a rights issue but with no subscription price. The ex-date and ratio are the primary tracking fields.
Return of Capital
Kaiko actionType: RETURN_OF_CAPITAL
A return of capital is a payment from the company back to shareholders drawn from its capital base rather than from earnings. Unlike a dividend, it reduces the shareholder's cost basis and is generally not immediately taxable as income. Tracked by effectiveDate and, where applicable, exDate.
Distribution
Kaiko actionType: DISTRIBUTION
A distribution is a payment made to shareholders that is not a regular cash dividend. This includes spin-offs paid in shares, return of capital in kind, or in-specie distributions. The output security (outIsin, outSecId) identifies what is being distributed.
Delisting
Kaiko actionType: DELISTING
A delisting marks the removal of a security from a public exchange. The effectiveDate is the date on which trading ceases. No ratio or price fields apply — the event records only the termination of the listing.
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