Dirty Price

See: Clean Shares.

As for this term, well...we wish it lived up to its name, but a dirty price (to be viewed in darkness on a late lonely Saturday night), is a term associated with bond pricing. Yeah, oh well.

The number you hear quoted isn't fully representative of the value or stream of cash flows you are buying. Specifically, "dirty" is the price of a coupon bond that includes the current value of its future cash flows. Like...somebody took blindfolds and a dart board and just discounted back for time and risk and made up some discount rate that then attributed some price to that stock.

Will the company cancel the dividend? Raise it? What will inflation be? How about the case where the company is sold to GOOG?

So...lots of guesswork, and that's why it's...dirty. The final numbers include any interest accrued on the next coupon payment. This structure is more common in Europe than in the U.S., but dirt is dirt.