Pro rata

“Pro rata” is a Latin term that means “in proportion” or “proportionally.” It is used in various contexts to refer to the distribution of something in proportion to a certain factor, typically based on a percentage or share. For instance, if you own a specific percentage of shares in a company, you are entitled to a pro rata share of the company’s profits or dividends. Similarly, when you rent an office space for only a part of a month, you might be charged rent pro rata, meaning you will only be charged for the portion of the month that you have used the space.