can co declare dividend on share application money?
This query is : Resolved
06 February 2012
Dear sir,
I am a CA Final student.My doubt is, can any co (pvt/public)declare dividend on Share Application Money(pending in Allotment).If yes,what Rules are to be satisfied?
I am a CA Final student.My doubt is, can any co (pvt/public)declare dividend on Share Application Money(pending in Allotment).If yes,what Rules are to be satisfied?
06 February 2012
No. No way you can give dividend on share application money. For dividend the shares must be in existence. Here the shares are yet to be allotted and therefore not in existence. So dividend can not be declared on Share Application Money pending Allotment.
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Charu Srivastava
(Expert)
06 February 2012
Agree with Sanjay Sir.
Dividend is declared on shares and share application money is not a share.
Dividend is declared on shares and share application money is not a share.
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