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Preference dividend

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17 October 2009 A compamy has cumulative preference share capital of Rs. 2 crore. for the year ending 07, 08 the company doesn't had profits to pay the dividend but during the year 08-09 it paid the dividend for the years ending 07, 08 out of the profits of the year 08-09. After paying the dividend of earlier years it doesn't have enough profits to pay dividend of the year 08-09 but the company has enough bank deposits. Is it possile to pay dividend in advance even though the company doesn't have enough profits
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
18 October 2009 No company has to pay dividend only from its profits.
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