Interim dividend rules limit declarations to available profits and cap rates when current-year losses exist versus historical averages. Amendments require exclusion of unrealised gains, national gains, asset revaluation and fair-value measurement changes when computing profits, restrict reserve transfers to free reserves, and permit the Board to declare interim dividends from surplus, current-year profits or profits up to the preceding quarter, subject to a cap on interim dividend rate if the company has incurred losses in the current year up to the end of the preceding quarter equal to the company's historical average dividend rate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interim dividend rules limit declarations to available profits and cap rates when current-year losses exist versus historical averages.
Amendments require exclusion of unrealised gains, national gains, asset revaluation and fair-value measurement changes when computing profits, restrict reserve transfers to free reserves, and permit the Board to declare interim dividends from surplus, current-year profits or profits up to the preceding quarter, subject to a cap on interim dividend rate if the company has incurred losses in the current year up to the end of the preceding quarter equal to the company's historical average dividend rate.
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