A share's face value is fixed by the company; its market value changes. Dividend is always paid on the face value.
1Terms
At par: market value = face value; at premium: above; at discount: below
'x% stock at p' means Rs. 100 of stock (face value) costs Rs. p and pays Rs. x a year
2Formulas
Income = (investment × x)/p
Yield (rate of return) = (x/p) × 100%
Dividend on shares = number of shares × face value × dividend %