dividend
This query is : Resolved
07 December 2016
can dividend be adjusted against calls in arrears
07 December 2016
ACCORDING TO SECTION 51 OF THE COMPANIES ACT, A COMPANY MAY IF AUTHORIZED BY THE ARTICLE PAY DIVIDEND IN PROPORTION TO THE AMOUNT PAID UP ON EACH SHARE. CALLS IN AREAR SHALL BE DEDUCTED FROM THE TOTAL AMOUNT
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07 December 2016
In the case of listed companies, calls in arrears or any other sum due from a Member in the capacity of a Member may be adjusted against the Dividend payable to him after giving such notice, as may be required. In the case of other companies, unless the Articles provide otherwise, any other sums due from a Member, in a capacity other than as a Member, may also be adjusted against the Dividend payable to him
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