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Interim dividend

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(Querist)
04 November 2010 Suppose a company paid interim dividen out of profit. Then it made some huge extraordinary loss which wiped out its current and past year profits. What is the implication
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
04 November 2010 company cannot get back the interim dividend. So no implication for interim dividend. , it will be adjusted against reserve.
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Ajay Mishra

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Ajay Mishra (Expert)
09 November 2010 Hi

The company has declare interim dividend out of profit in accordance with Companies Act and thereafter the the company suffer losses, in that situation company can not withdraw such interim dividend for write off such losses.


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