Annual Return on Equity definition
Annual Return on Equity means, for any given year, the Net Income for such year divided by the Average Annual Shareholders’ Equity for such year.
Annual Return on Equity means, in respect of a Year, an amount equal to the sum of the Monthly Return on Equity for each Month in such Year, and where "Monthly Return on Equity" means, in respect of a Month, an amount equal to: [((1 + AR)(DIM÷DIY) ) - 1] x UEBM where:
Annual Return on Equity has the meaning given to such term in section 2 of Schedule 10 of the Processing Agreements.