Washington Increase Dividend — Resolution For— - Corporate Resolutions is a legal document that outlines the process and procedures for increasing the dividend amount for a corporation based in Washington state. This resolution form is used by businesses to comply with the state's regulations and formalize the decision to increase dividends. The Washington Increase Dividend — Resolution For— - Corporate Resolutions serves as an official record of the dividend increase, providing transparency and legal protection to the corporation and its shareholders. It ensures that the dividend increase is carried out in accordance with applicable laws and regulations, protecting the interests of both the corporation and its shareholders. This form typically includes various sections, such as: 1. Heading and Title: The form starts with the heading, stating the corporation's name, the type of resolution (increase dividend), and its effective date. 2. Background: This section provides a brief explanation of the purpose and necessity of the dividend increase, including any relevant financial information or market conditions. 3. Resolution Statement: The core of the form, this section sets forth the specific resolution to increase the dividend amount. It includes details such as the new dividend amount, the record date, and the payment date. 4. Capitalization: This section describes how the corporation plans to fund the increased dividend payout, whether through retained earnings, additional debt, or other sources. 5. Approval and Ratification: Here, the form provides space for the board of directors to sign and approve the resolution. Shareholders' approval may also be required, depending on the corporate bylaws. 6. Effective Date and Distribution: This section specifies when the increased dividend becomes effective and how it will be distributed to shareholders, either through direct deposits or by check. Different types of Washington Increase Dividend — Resolution For— - Corporate Resolutions may exist based on the specifics of the corporation's situation. For example: 1. Regular Dividend Increase: This type of resolution is the most common, where the board of directors determines a regular increase in the dividend amount on a periodic basis, usually annually or quarterly. 2. Special Dividend Increase: In certain circumstances, corporations may decide to distribute a one-time special dividend to shareholders, which requires a separate resolution stating the amount and purpose of the special dividend. 3. Emergency Dividend Increase: In times of financial distress or unforeseen circumstances, a corporation may need to increase the dividend amount urgently. This type of resolution would outline the emergency situation and the need for the dividend increase. It is essential for corporations in Washington state to follow the appropriate legal procedures when increasing dividends. Using the Washington Increase Dividend — Resolution For— - Corporate Resolutions helps ensure compliance and protection for both the corporation and its shareholders.