North Carolina Clauses Relating to Dividends, Distributions
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FAQ
A shareholder can obtain an injunction compelling payment of a reasonable dividend where the corporation is withholding dividends in bad faith for a fraudulent or abusive purpose. Once a dividend has been declared by the corporation, it is a debt of the corporation, and shareholders may bring suit to compel payment.
Section 123 (1)(a) of the Companies Act, 2013 provides that no dividend shall be declared or paid by a company for any financial year except out of the profits of the company for that year or out of the profits of the company for any previous financial years arrived at after providing for depreciation in ance ...
1. it has positive net assets before and after the payment (the Net Assets Test) 2. the dividend is fair and reasonable to the company's shareholders as a whole, and 3. the dividend does not materially prejudice the company's ability to pay its creditors.
The company makes a provision for the dividend payable. It means it has made short-term fund arrangements to manage the actual dividend payment post-approval. This article explores key information about the proposed dividend to help you understand its relevance for a company and its shareholders.
Dividend to be paid by cheque or warrant Section 123(5) of the Companies Act, 2013 provides that the dividend payable in cash may be paid either by cheque or warrant or in any electronic mode to the shareholder entitled to the payment of dividend.
The Board may declare interim dividend out of profits. The amount of dividend shall be deposited in a scheduled bank in separate account within five days. Dividend may be paid by cheque or warrant or in any electronic mode to the shareholders entitled to the payment of dividend.
(1) The company may by ordinary resolution declare dividends, and the directors may decide to pay interim dividends. (2) A dividend must not be declared unless the directors have made a recommendation as to its amount. Such a dividend must not exceed the amount recommended by the directors.
There are four types of dividend policy. First is a regular dividend policy, the second is an irregular dividend policy, the third is a stable dividend policy, and lastly no dividend policy.
The company announces when the dividend will be paid, the amount and the ex-dividend date. Investors must have bought the stock at least two days before the official date of a dividend payment (the "date of record") in order to receive that payment.
The Companies Act, 2013 lays down certain provisions for declaration of dividend, which are: (i) Section 51 permits companies to pay dividends proportionately, i.e. in proportion to the amount paid-up on each share when all shares are not uniformally paid up, i.e. pro rata.