Allotment of shares and declaration of dividend

Preeti Gandhi (Company Secretary) (90 Points)

05 August 2011  

Dear All

Please guide me on the case;

The Board of directors of unlisted public company alloted shares to a non
member(preferential allotment) and also declared dividend and approved balance
sheet in the same meeting. The proposed dividend did not include the fresh
allotment of shares.

Whether on such shares dividend should be paid.

Thanks

Preeti