Dividend claim by shareholder
Querist : Anonymous
Can a shareholder claim dividend declared in 2008 lying with the company under unpaid dividend account as on date.
If yes, what steps should the shareholder take.
in case, the latest CS wants to expedite the pending dividend in company's account to the existing shareholder in whose name it was declared, how can she initiate
Yes, they can claim dividend till 2015.
They will request a letter to company with dividend warrant given by the company at the time of declaration of dividend.
Request to the company for re validation of dividend warrant.
The company will issue a DD against your dividend warrant.
Querist : Anonymous
So, in case company had sent demand draft to the shareholder and the same could not be claimed on account of lost in transit, can a request letter will be sufficient?
or an affidavit is required?
Querist : Anonymous
where can i get the format for the same.
Moreover, once such signed affidavit is received from the shareholder, CS can just make the payment or place it in Board for approval.
http://www.mcsdel.com/images/documents/6_1282773308_div-obc.pdf
Querist : Anonymous
Querist : Anonymous
I guess there is no rule for this but to avoid any future concern, it should be taken.
kindly advice. thanks
Section 205(3) specifically states that no dividend shall be payable except, in cash. However the dividend payable in cash may be paid by cheque or warrant/Demand Draft sent through the post directed to the registered address of the shareholder/beneficiaries entitled to the payment of the dividend or in the case of joint shareholders, to the registered address of that one of the joint shareholders which is first named on the register of members, or to such person and at such address as the shareholder or the joint shareholders may in writing direct.
Dividend shall be paid to registered shareholders and beneficial owners under CSDL/NSDL
Section 206 provides that no dividend shall be paid by a company in respect of any shares therein except:—
(a) to the registered holders of such shares or to his order to his bankers; or
(b) in case if the share warrants has been issued in respect of shares u/s 114, to the bearer of such warrants or to his bankers.
In the case of joint holdings, the dividend shall be paid to the person whose name is registered first in the books. It may be noted that the person whose name is named first in the application for shares is entered first in the Register of members. There will be no objection to send the dividend to any other jointholder, if a request is made to the company signed by all the jointholders.
In case if the shares are held in electronic mode, the dividend will be paid to the beneficiaries whose names as may be provided by the CDSL/NSDL to the Company or its registrar on the record date or date of book closure as the case may be.
The registered holder may ask the company to send the dividend to his banker or to any other person, which the company is bound to honour. In the case of joint holding if the dividend is payable to a person other than the registered holder, such a request shall be signed by all the holders.
The cheque or warrant or demand draft or pay order should be sent to the registered address of the Member and, in the case of joint holders, to the registered address of the person named first in the register of members or to such person or to such address as the Member or the joint holders have directed, in writing.
Querist : Anonymous
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