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V. Dividend - Coggle Diagram
V. Dividend
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Whom to pay?
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If shares are sold, dividends must still be paid to the registered shareholder.
Dividend is a company's profits shared among its members. When earnings aren't retained, they're called dividend. Divisible profits are legally distributable to shareholders after considering past losses, reserves, etc.
Dividend only payable in cash [123(5)]. Cash dividend can be paid by cheque, warrant, or electronically to entitled shareholder.
Dividend must be deposited in a separate account in a scheduled bank within 5 days of declaration, and paid to entitled shareholders within 30 days. [123(4)]
Interim dividend is a part of profits distributed before final accounts are passed and dividend is sanctioned in the AGM
Unpaid/claimed dividends must be transferred to an "Unpaid Dividend Account" within 7 days after 30 days from declaration. The special account must be opened in a scheduled bank.