Preference Shares Redemption Reserve
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2009
A company had issued Non Convertible Cumulative Redeemable Preference Shares.
These were redeemed as per the terms and conditions of issue.
As per the requirement a Preference Shares Redemption Reserve was created .
My Querry is can this reserve be utilised for paying dividend on Equity Shares
These were redeemed as per the terms and conditions of issue.
As per the requirement a Preference Shares Redemption Reserve was created .
My Querry is can this reserve be utilised for paying dividend on Equity Shares
15 December 2009
No
Capital Redemption Reserve can be utilised only for issue of bonus shares.
Capital Redemption Reserve can be utilised only for issue of bonus shares.
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