Dividend declaration limits: a company cannot declare an additional dividend after one has been declared for the same year. A company may declare dividends at a general meeting other than the annual general meeting unless its articles prohibit it, but once a dividend has been validly declared at the annual general meeting it is beyond the powers of the company to declare a further dividend for that same year. Conversely, if a company could not declare a dividend at the annual general meeting it may do so at a subsequent general meeting; where a dividend has been declared at a general meeting neither the company nor its directors may declare an additional dividend for the same year.
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.
Dividend declaration limits: a company cannot declare an additional dividend after one has been declared for the same year.
A company may declare dividends at a general meeting other than the annual general meeting unless its articles prohibit it, but once a dividend has been validly declared at the annual general meeting it is beyond the powers of the company to declare a further dividend for that same year. Conversely, if a company could not declare a dividend at the annual general meeting it may do so at a subsequent general meeting; where a dividend has been declared at a general meeting neither the company nor its directors may declare an additional dividend for the same year.
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