Interim Dividiend
This query is : Resolved
30 September 2008
I would like to know the procedure that is needed to be followed to declare an interim dividend by a private limited company.
30 September 2008
Declare after board consent and deposit the same within 5 days in scheduled bank separately till it further distributed.
DDT will be deposited as per IT provisions
DDT will be deposited as per IT provisions
30 September 2008
Is there a ceiling on the number of times a co. could declare an interim dividend?
30 September 2008
No. The criteria is the company should have sufficient profits to accommodate the dividends and the BOard should be satisfied with that.
30 September 2008
u can refer to dividend rules made in this behalf.
30 September 2008
acha 1 more thing, what if a co. declares an interim dividend as it had earned profit tilld time of declaration but consequently it incurred an annual loss?
02 October 2008
No Problem.
Since it is that Dividend declared out of past profits.
Since it is that Dividend declared out of past profits.
04 October 2008
what if d co. had no past profits n d dividend was paid completely out of d pofits earned during d first 6 months
04 October 2008
what if d co. had no past profits n d dividend was paid completely out of d pofits earned during d first 6 months
07 October 2008
If the interim dividend is not exhorbitant and on account of reasons totally beyond the control of the Board, the second half year turns out to be a loss totally unexpected, there is no violation. But the onus of substantiating that the Board acted prudently lies with the Board. Secondly, till the deficit is made up, the company can not consider further dividends.
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