In a company’s financial calendar, a quarter is a three-month cycle that serves as the basis for quarterly financial reporting and dividend payments. A quarter is one-fourth of a year and is normally denoted by the letters “Q1” for the first quarter, “Q2” for the second quarter, and so on. One-fourth is written as 14. Michael’s family consists of four members. Michael cuts a pizza into four equal pieces and distributes one to each of them. When a whole is divided into four equal parts, each of which is referred to as a fifth.