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Preference Shares Redemption Reserve

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Querist : Anonymous

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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
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Rasesh

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Rasesh (Expert)
15 December 2009 No

Capital Redemption Reserve can be utilised only for issue of bonus shares.
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