Ohio Increase Dividend - Resolution Form - Corporate Resolutions

• Category: Corporations - Minutes and Resolutions - Dividends
• State: Multi-State
• Control #: US-0071-CR
• Format: Word; Rich Text

Description

Form with which the directors of a corporation may authorize an increase in the payment of a dividend.

Ohio Increase Dividend — Resolution For— - Corporate Resolutions The Ohio Increase Dividend — Resolution For— - Corporate Resolutions is a legal document used by corporations in the state of Ohio to formally propose and approve an increase in dividend payments to its shareholders. This resolution form outlines the necessary steps and procedures that need to be followed to carry out the dividend increase. Key elements included in this resolution form: 1. Identification of the corporation: The form begins by providing space to fill in the name of the corporation, its registered address, and any other relevant details needed for identification purposes. 2. Resolution details: The resolution section of the form allows the corporation to specify the proposed dividend increase amount, effective date, and any other provisions or conditions related to the increase. This ensures transparency and clarity for shareholders. 3. Shareholder approval: The form includes space for the board of directors to record the date of the meeting where this resolution was approved. It further allows the board to indicate the type of shareholder vote required (e.g., majority, super majority) and any special quorum requirements as per the corporate bylaws. 4. Signature and attestation: The form requires the signature of the corporate secretary or another authorized officer, certifying that the resolution was approved in accordance with applicable state laws and corporate governance procedures. The date of the resolution's execution is also recorded. 5. Filing and distribution: After obtaining the necessary approvals and signatures, the completed form is typically filed with the appropriate Ohio state agency. Additionally, it is important to distribute copies to all interested parties, such as shareholders and legal counsel, to keep them informed about the dividend increase. Different types of Ohio Increase Dividend — Resolution Form— - Corporate Resolutions: 1. Standard Dividend Increase Resolution Form: This form is used when a corporation intends to propose a straightforward increase in dividend payments to shareholders without any additional conditions or restrictions. 2. Conditional Dividend Increase Resolution Form: This form is utilized when a dividend increase is contingent upon meeting specific criteria or performance targets. It may specify that the increase will only occur if certain financial goals or industry benchmarks are achieved. 3. Special Dividend Increase Resolution Form: This form is employed when a corporation intends to declare a special, one-time dividend increase above and beyond its usual dividend policy. It is typically used to distribute excess cash flow, windfalls, or profits resulting from extraordinary events, such as asset sales or exceptional business success. In conclusion, the Ohio Increase Dividend — Resolution For— - Corporate Resolutions is a vital legal document utilized by corporations in Ohio to propose and approve dividend increases to shareholders. The form ensures transparency, clarity, and compliance with relevant laws and corporate governance procedures. Different variations of this form may exist, depending on the specific circumstances and conditions surrounding the dividend increase.