Data Subtype Code is an integer code further defining categories of data in a CRSP object that otherwise have the same structure, such as the difference between a return and price data item. It is set to zero if unused. The Data Subtype Code for portfolio assignments and statistics time series is set to the INDNO of the index group with portfolio results for the market segment portfolio type.
General Information
Primary Concepts
Base CRSPAccess Data Structures, Time Series Objects, Event Array Objects, Header Objects
Delisting Code is a 3-digit integer code. It either (1) indicates that a security is still trading or (2) provides a specific reason for delisting. All coded delistings are categorized by the first digit of the delisting code.
Primary First Digit of Code
Category
1
still trading or halted but not yet delisted
2
mergers
3
exchanges
4
liquidations
5
delisted by NYSE, NYSE American, NASDAQ, or Arca
7
delisted by the Securities and Exchange Commission
8
trading simultaneously on more than one exchange
The second and third digits of the delisting codes provide further detail of delisting events. Additional delisting codes, specific to various delisting categories, have been created to indicate when an issue is closed to further research, or if the issue is pending further research. for details of delisting coding schemes.
Delisting Date is an integer containing the date in YYYYMMDD format of a security's last price on the current exchange. If the security is still active, Delisting Date is set to the last date of available price data. Delisting date is never missing.
Monthly: Delisting Date is not necessarily a month-end trading date and might not be included in the Calendar Trading Date array of monthly time series.
Delisting Date of Next Available Information is the integer date (in YYYYMMDD format) of a security's Delisting Price - the price or quote found after delisting. This date is set to zero if the security is still active. It is also set to zero if the final value of the security is determined by one or more distributions or if the value of the security is unknown after suspension of trading or after delisting.
If a liquidation or merger was announced in advance, and trading continued on the exchange, then this date is set to the date of the announcement. If the security became worthless after delisting and there is no evidence of any trading after delisting, then the Delisting Date of Next Available Information is set to one trading day after the Delist Date, and the Delisting Price is set to zero.
Delisting Payment Date is the effective date (in YYYYMMDD format) of the Amount After Delisting value used in the Delisting Return calculations. If a price is used for the Amount After Delisting, then the Delisting Payment Date is set to the Delisting Date of Next Available Information. If distribution payments are used for the Amount After Delisting, then the Delisting Payment Date is set to the Ex-Distribution Date of the last known distribution payment. This date is set to zero if the security is still active or if no price or payment information is available.
Monthly: If no delisting information is found, and the security did not delist on the last trading day of the month, then the Delisting Payment Date is set to the Delisting Date and the Amount After Delisting is set to the last daily trading value found in the Price or Bid/Ask Average.
Delisting Price refers to a trade price or a price quote (given as the average of bid and ask quotes) on another exchange or over-the-counter. The date of this price or quote is specified in the Delisting Date of Next Available Information.
If the Delisting Price is positive, then it is a trade price. If the Delisting Price is negative, then it is the average of bid and ask quotes. A Delisting Price is set to zero if the security is still active, if there was no further trading for the security after the delist date, or if prices or price quotes are not available after the delist date. If delisting payments were made using distributions, the Delisting Price is also set to zero, and the sum of the distribution payments is specified in the Amount After Delisting.
Delisting Return is the return of a security after it has delisted from NYSE, NYSE American, NASDAQ, or Arca. The Delisting Return is calculated by comparing the security's Amount After Delisting with its price on the last day of trading. The Amount After Delisting can be either an off-exchange price, an off-exchange price quote, or the sum of a series of distribution payments. The effective date of the delisting return is specified in the Delisting Payment Date.
The return for any issue that has been closed to further research is calculated as follows:
If a price within 10 periods of the delist date is available, then the delisting return is calculated using that price.
If a final distribution is available, then the delisting return is calculated using all known distribution information occurring after the date of last price.
If distributions occurring after the date of last price are available, but no final distribution has been found, then the delisting return is calculated as if a final distribution were found. (This applies only to issues closed to further research.)
If there is evidence that no distributions will ever be paid to shareholders, then the stock is considered worthless. The delisting return is set to -1 (i.e. a 100% loss).
If there is evidence that the stock has been declared worthless, then the delisting return is set to -1 (i.e. a 100% loss).
For any issue that is closed to further research and none of the above criteria are met, the delisting return is given a missing return code. For any issue that is pending further research, the delisting return is given a missing return code of -55.0.
Missing Delisting Return Codes
Code
Reason For Missing Return
-55.0
CRSP has no sources to establish a value after delisting or is unable to assign a value to one or more known distributions after delisting
-66.0
more than 10 trading periods between a security's last price and its first available price on a new exchange
-88.0
security is still active
-99.0
security trades on a new exchange after delisting, but CRSP currently has no sources to gather price information
Monthly: If Amount After Delisting is non-zero and Delisting Payment Date is less than or equal to the Delisting Date, the Delisting Return represents a partial-month return, not a Delisting Return. The partial-month returns compare the value on the last day of trading with the value on the last month-end date and do not factor in additional after-delisting information.
General Information
Primary Concepts
Delisting History Array
Data Type
real number
Unit of Item
Ratio
Date Range Availability
Daily
1925
Monthly
1925
Database Availability and Utility Usage
Database Formats
CRSPAccess
Product Types
STK
ts_print Daily Usage
ret/0 when the DLRET option is included in the FORMAT options.
ts_print Monthly Usage
mret/0 when the DLRET option is included in the FORMAT options.
Delisting Return Without Dividends is the return of a security after it has delisted from NYSE, NYSE American, NASDAQ, or NYSE Arca. Ordinary dividends that were paid between the last trading date and the Date of Delisting Payment are not included in these return calculations. However, the ordinary dividends are included in the Delisting Return calculations. See Delisting Return in the Calculations Section for calculation and missing values.
General Information
Primary Concepts
Delisting History Array
Data Type
real number
Unit of Item
Ratio
Date Range Availability
Daily
1925
Monthly
1925
Database Availability and Utility Usage
Database Formats
CRSPAccess
Product Types
STK
ts_print Daily Usage
retx/0 when the DLRET option is included in the FORMAT options.
ts_print Monthly Usage
mretx/0 when the DLRET option is included in the FORMAT options.
CRSP describes company distributions and corporate actions in the distribution history with a 4-digit code. The first digit describes the type of distribution. The second digit describes the payment method. The third digit augments the type denoted by the first digit. The fourth digit provides information regarding the tax status of the distribution. See Distribution Codes for details.
CRSP has not verified the tax status of ordinary cash dividends since 1987. CRSP assigns the most common tax code, taxable as dividend, to ordinary dividends to these issues. CRSP does verify the tax status of stock distributions and distributions associated with rights offerings, spin-offs, liquidations, mergers, reorganizations, and exchanges.
Distribution Declaration Date is the date (in YYYYMMDD format) on which the board of directors declared a distribution. If a declaration cannot be found, then this date is set to zero.
If the distribution is associated with a merger tender offer, then the Distribution Declaration Date is set to the announcement date of the tender offer. If the distribution represents merger payments or merger terms, then this date is set to the announcement date of the payments or terms.
Dividend Cash Amount is the US dollar value per share of distributions resulting from cash dividends, spin-offs, mergers, exchanges, reorganizations, liquidations, and rights issues. Dividend Cash Amount includes the cash value of ordinary and non-ordinary (return of capital) dividends. When the distribution is paid in shares of a trading security, the Dividend Cash Amount is set to the exchange ratio times the price of the security at the close of the Ex-Distribution Date.
In a distribution where a limited percentage of shares are accepted in exchange for cash, the Dividend Cash Amount is set to the offer price, and the value must be adjusted using the Factor to Adjust Price. These are identified by a Distribution Code with the first digit 6 and a Factor to Adjust Price between -1 and 0. Note: regular income dividends for ADRs use the gross.
Subscription Information
Data Secondary Subtype Code
Data Secondary Subtype Code is an integer code further defining the Data Subtype Code of a CRSP array object. It is set to zero if unused.
n/an/an/aData Subtype Code
Data Subtype Code is an integer code further defining categories of data in a CRSP object that otherwise have the same structure, such as the difference between a return and price data item. It is set to zero if unused. The Data Subtype Code for portfolio assignments and statistics time series is set to the INDNO of the index group with portfolio results for the market segment portfolio type.
n/an/an/aDate - YYYYMMDD Trading Date (partial period data)
Trading dates used with partial period data.
Delisting Code
Delisting Code is a 3-digit integer code. It either (1) indicates that a security is still trading or (2) provides a specific reason for delisting. All coded delistings are categorized by the first digit of the delisting code.
The second and third digits of the delisting codes provide further detail of delisting events. Additional delisting codes, specific to various delisting categories, have been created to indicate when an issue is closed to further research, or if the issue is pending further research. for details of delisting coding schemes.
See here for a listing of codes describing categories of delisting events.
n/an/a/deDelisting Code - Header
Delisting Code - Header is the issue's delisting status at the end of the file.
n/an/a/hh , /hnDelisting Date
Delisting Date is an integer containing the date in YYYYMMDD format of a security's last price on the current exchange. If the security is still active, Delisting Date is set to the last date of available price data. Delisting date is never missing.
Monthly: Delisting Date is not necessarily a month-end trading date and might not be included in the Calendar Trading Date array of monthly time series.
n/an/a/deDelisting Date of Next Available Information
Delisting Date of Next Available Information is the integer date (in YYYYMMDD format) of a security's Delisting Price - the price or quote found after delisting. This date is set to zero if the security is still active. It is also set to zero if the final value of the security is determined by one or more distributions or if the value of the security is unknown after suspension of trading or after delisting.
If a liquidation or merger was announced in advance, and trading continued on the exchange, then this date is set to the date of the announcement. If the security became worthless after delisting and there is no evidence of any trading after delisting, then the Delisting Date of Next Available Information is set to one trading day after the Delist Date, and the Delisting Price is set to zero.
n/an/a/deDelisting Payment Date
Delisting Payment Date is the effective date (in YYYYMMDD format) of the Amount After Delisting value used in the Delisting Return calculations. If a price is used for the Amount After Delisting, then the Delisting Payment Date is set to the Delisting Date of Next Available Information. If distribution payments are used for the Amount After Delisting, then the Delisting Payment Date is set to the Ex-Distribution Date of the last known distribution payment. This date is set to zero if the security is still active or if no price or payment information is available.
Monthly: If no delisting information is found, and the security did not delist on the last trading day of the month, then the Delisting Payment Date is set to the Delisting Date and the Amount After Delisting is set to the last daily trading value found in the Price or Bid/Ask Average.
n/an/a/deDelisting Price
Delisting Price refers to a trade price or a price quote (given as the average of bid and ask quotes) on another exchange or over-the-counter. The date of this price or quote is specified in the Delisting Date of Next Available Information.
If the Delisting Price is positive, then it is a trade price. If the Delisting Price is negative, then it is the average of bid and ask quotes. A Delisting Price is set to zero if the security is still active, if there was no further trading for the security after the delist date, or if prices or price quotes are not available after the delist date. If delisting payments were made using distributions, the Delisting Price is also set to zero, and the sum of the distribution payments is specified in the Amount After Delisting.
n/an/a/deDelisting Return
Delisting Return is the return of a security after it has delisted from NYSE, NYSE American, NASDAQ, or Arca. The Delisting Return is calculated by comparing the security's Amount After Delisting with its price on the last day of trading. The Amount After Delisting can be either an off-exchange price, an off-exchange price quote, or the sum of a series of distribution payments. The effective date of the delisting return is specified in the Delisting Payment Date.
The return for any issue that has been closed to further research is calculated as follows:
For any issue that is closed to further research and none of the above criteria are met, the delisting return is given a missing return code. For any issue that is pending further research, the delisting return is given a missing return code of -55.0.
Monthly: If Amount After Delisting is non-zero and Delisting Payment Date is less than or equal to the Delisting Date, the Delisting Return represents a partial-month return, not a Delisting Return. The partial-month returns compare the value on the last day of trading with the value on the last month-end date and do not factor in additional after-delisting information.
ret/0 when the DLRET option is included in the FORMAT options.mret/0 when the DLRET option is included in the FORMAT options./deDelisting Return without Dividends
Delisting Return Without Dividends is the return of a security after it has delisted from NYSE, NYSE American, NASDAQ, or NYSE Arca. Ordinary dividends that were paid between the last trading date and the Date of Delisting Payment are not included in these return calculations. However, the ordinary dividends are included in the Delisting Return calculations. See Delisting Return in the Calculations Section for calculation and missing values.
retx/0 when the DLRET option is included in the FORMAT options.mretx/0 when the DLRET option is included in the FORMAT options./deDistribution Code
CRSP describes company distributions and corporate actions in the distribution history with a 4-digit code. The first digit describes the type of distribution. The second digit describes the payment method. The third digit augments the type denoted by the first digit. The fourth digit provides information regarding the tax status of the distribution. See Distribution Codes for details.
CRSP has not verified the tax status of ordinary cash dividends since 1987. CRSP assigns the most common tax code, taxable as dividend, to ordinary dividends to these issues. CRSP does verify the tax status of stock distributions and distributions associated with rights offerings, spin-offs, liquidations, mergers, reorganizations, and exchanges.
n/an/a/diDistribution Declaration Date
Distribution Declaration Date is the date (in YYYYMMDD format) on which the board of directors declared a distribution. If a declaration cannot be found, then this date is set to zero.
If the distribution is associated with a merger tender offer, then the Distribution Declaration Date is set to the announcement date of the tender offer. If the distribution represents merger payments or merger terms, then this date is set to the announcement date of the payments or terms.
n/an/a/diDividend Amount in Period, Adjusted
Ordinary and return-of-capital dividends, adjusted using the Price adjustment factor.
Dividend Amount in Period, Beginning Basis
Ordinary and return-of-capital dividends during the period, adjusted to beginning of period basis.
Dividend Amount in Period, Ordinary, Adjusted
Ordinary cash dividends paid, adjusted using the price adjustment factor.
Dividend Amount in Period, Ordinary, Beginning Basis
Ordinary cash dividends paid during the period, adjusted to beginning of period basis.
Dividend Cash Amount
Dividend Cash Amount is the US dollar value per share of distributions resulting from cash dividends, spin-offs, mergers, exchanges, reorganizations, liquidations, and rights issues. Dividend Cash Amount includes the cash value of ordinary and non-ordinary (return of capital) dividends. When the distribution is paid in shares of a trading security, the Dividend Cash Amount is set to the exchange ratio times the price of the security at the close of the Ex-Distribution Date.
In a distribution where a limited percentage of shares are accepted in exchange for cash, the Dividend Cash Amount is set to the offer price, and the value must be adjusted using the Factor to Adjust Price. These are identified by a Distribution Code with the first digit 6 and a Factor to Adjust Price between -1 and 0. Note: regular income dividends for ADRs use the gross.
n/an/a/di