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Multiple transactions to the same vendor on the same day when the combined total of the orders exceed the Purchasing Card transaction limit of $2,500 is considered splitting purchase transactions. Whether the action is intentional or not, it is a violation of the SC Procurement Code.
The term âstock splitâ can also apply to stock dividends. 1  Dividends are a way that companies reward shareholders for owning the stock, usually in the form of a cash payment.  Normally, companies pay cash dividends on a regular basis (often quarterly). Sometimes, theyâll elect to pay a one-time dividend, as well.