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Page 159

CHAPTER 14
DIVIDENDS

PAYMENT OF DIVIDENDS
Dividends are paid in the manner laid down in the articles. Table A, Art. 114, provides:
" The company in general meeting may declare dividends, but no dividend shall exceed the amount recommended by the directors."

Before recommending a dividend, directors should have a complete and detailed list of the company's assets and investments prepared for their information, and should not rely for their value merely on the opinion of the chairman or the auditors. (16)
In the absence of anything to the contrary in the articles, a company cannot be compelled to declare a dividend, and no action can be brought for the recovery of a dividend until it has been declared. (17) The declaration of a dividend creates a debt due from the company to the shareholder which will be barred in twelve years from the date of declaration.lS
When preference shares entitle the holders to receive out of the profits of the company for each year a fixed dividend, the " profits of the company " are the profits available for dividend after setting aside such reserves as the directors think fit. If the whole of the profits are transferred to reserve the preference shareholders are not entitled to any dividend. (18)
The articles may give the directors power to pay such interim ,dividends as appear to them to be justified by the profits. Table A, Art. 115, gives such a power.
An interim dividend is one which is paid on some date between the annual general ,meetings of the company. (20)
Dividends are payable to the shareholders in proportion to the nominal amounts of their shares, irrespective of the amounts paid Up. (21) Sect. 59, however, permits a company, if so authorised by its articles, to pay dividend in proportion to the amount paid up on each share where a larger amount is paid up on some shares than on others. Table A, Art. 118, accordingly provides that dividends shall be declared and paid " according to the amounts paid on the shares."

16 In re City Equitable Fire Insce. Co., [1925] Ch. 407, per Romer, J.
17 Bond v. Barrow Hcsmatite Co., [1902] 1 Ch. 353; Re Accrington Corpn. Steam
Tramways, [1909] 2 Ch. 40.
18 In re Artisans' Land Co., [1904] 1 Ch. 796; Limitation Act, 1939, s. 2 (3).
19 In re Buenos Ayres Great Southern By., [1947] Ch. 384.
20 Re Jowitt, [1922] 2 Ch. 442. 21 Birch v. Cropper (1889), 14 App. Cas. 525.

travel books:
where is HTML where is HEAD where is TITLE PAYMENT OF DIVIDENDS Dividends are paid in what is manner laid down in what is articles. Table A, Art. 114, provides: " what is company in general meeting may declare dividends, but no dividend shall exceed what is amount recommended by what is directors." Before recommending a dividend, directors should have a complete and detailed list of what is company's assets and investments prepared for their information, and should not rely for their value merely on what is opinion of what is chairman or what is auditors. (16) In what is absence of anything to what is contrary in what is articles, a company cannot be compelled to declare a dividend, and no action can be brought for what is recovery of a dividend until it has been declared. (17) what is declaration of a dividend creates a debt due from what is company to what is shareholder which will be barred in twelve years from what is date of declaration.lS When preference shares entitle what is holders to receive out of what is profits of what is company for each year a fixed dividend, what is " profits of what is company " are what is profits available for dividend after setting aside such reserves as what is directors think fit. If what is whole of what is profits are transferred to reserve what is preference shareholders are not entitled to any dividend. (18) what is articles may give what is directors power to pay such interim ,dividends as appear to them to be justified by what is profits. Table A, Art. 115, gives such a power. An interim dividend is one which is paid on some date between what is annual general ,meetings of what is company. (20) Dividends are payable to what is shareholders in proportion to what is nominal amounts of their shares, irrespective of what is amounts paid Up. (21) Sect. 59, however, permits a company, if so authorised by its articles, to pay dividend in proportion to what is amount paid up on each share where a larger amount is paid up on some shares than on others. Table A, Art. 118, accordingly provides that dividends shall be declared and paid " according to what is amounts paid on what is shares." 16 In re City Equitable Fire Insce. Co., [1925] Ch. 407, per Romer, J. 17 Bond v. Barrow Hcsmatite Co., [1902] 1 Ch. 353; Re Accrington Corpn. Steam Tramways, [1909] 2 Ch. 40. 18 In re Artisans' Land Co., [1904] 1 Ch. 796; Limitation Act, 1939, s. 2 (3). 19 In re Buenos Ayres Great Southern By., [1947] Ch. 384. 20 Re Jowitt, [1922] 2 Ch. 442. 21 Birch v. Cropper (1889), 14 App. Cas. 525. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 159 where is strong CHAPTER 14 DIVIDENDS where is p align="justify" PAYMENT OF DIVIDENDS Dividends are paid in what is manner laid down in what is articles. Table A, Art. 114, provides: " what is company in general meeting may declare dividends, but no dividend shall exceed what is amount recommended by what is directors." Before recommending a dividend, directors should have a complete and detailed list of what is company's assets and investments prepared for their information, and should not rely for their value merely on what is opinion of what is chairman or what is auditors. (16) In what is absence of anything to what is contrary in what is articles, a company cannot be compelled to declare a dividend, and no action can be brought for what is recovery of a dividend until it has been declared. (17) what is declaration of a dividend creates a debt due from the company to what is shareholder which will be barred in twelve years from the date of declaration.lS When preference shares entitle what is holders to receive out of the profits of what is company for each year a fixed dividend, what is " profits of what is company " are what is profits available for dividend after setting aside such reserves as what is directors think fit. If the whole of what is profits are transferred to reserve what is preference shareholders are not entitled to any dividend. (18) what is articles may give what is directors power to pay such interim ,dividends as appear to them to be justified by what is profits. Table A, Art. 115, gives such a power. An interim dividend is one which is paid on some date between what is annual general ,meetings of what is company. (20) Dividends are payable to what is shareholders in proportion to the nominal amounts of their shares, irrespective of what is amounts paid Up. (21) Sect. 59, however, permits a company, if so authorised by its articles, to pay dividend in proportion to what is amount paid up on each share where a larger amount is paid up on some shares than on others. Table A, Art. 118, accordingly provides that dividends shall be declared and paid " according to what is amounts paid on what is shares." 16 In re City Equitable Fire Insce. Co., [1925] Ch. 407, per Romer, J. 17 Bond v. Barrow Hcsmatite Co., [1902] 1 Ch. 353; Re Accrington Corpn. Steam Tramways, [1909] 2 Ch. 40. 18 In re Artisans' Land Co., [1904] 1 Ch. 796; Limitation Act, 1939, s. 2 (3). 19 In re Buenos Ayres Great Southern By., [1947] Ch. 384. 20 Re Jowitt, [1922] 2 Ch. 442. 21 Birch v. Cropper (1889), 14 App. Cas. 525. where is Server.Execute("_SiteMap.asp") %

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