Recommendation of Final Dividend
All companies proposing to recommend a final dividend to shareholders for approval at the AGM. Dividend may be paid only out of current year profits or free reserves.
Rewarding shareholders is simple in theory, and easy to get wrong in practice. Section 123(1)-(6) decides what's actually allowed. Concretely: payable only out of current/previous year profit (after depreciation) or Govt-guaranteed money. No templates, no guesswork — Fi CTC Generator drafts this correctly in about 3 minutes.
Dividend must be deposited in a separate bank account within 5 days of declaration. Unpaid dividend after 30 days must be transferred to a separate Unpaid Dividend Account.
Section 123(4), Section 124(1), Companies Act 2013
Final Dividend recommended by the Board must be approved by shareholders at the AGM. Dividend must be paid within 30 days of declaration by shareholders.
Section 123(4), Companies Act 2013
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