04 October 2009
Please solve my query in the following cases :- 1. Suppose RS. 10 is the face value of equity shares and upto Rs. 7 has been called up. Company declares 10% as dividend. Please tell me on what amount dividend will be payable.
2. Suppose in the no. 1 case their is calls in arrear of 100 shares which stood on the balance sheet. Now on what amount dividend will be payable.
3. As per case no. 1 now the company makes final call on 15/09/2008. At AGM held on 30/09/2008 company declares dividend. Now on what amount dividend will be declared. On full value of shares or partly paid amount.
04 October 2009
1. Suppose RS. 10 is the face value of equity shares and upto Rs. 7 has been called up. Company declares 10% as dividend. Please tell me on what amount dividend will be payable.
answer:dividend is paybale on the Face ue of share, ubless specially forbade by Article ot shareholder in GM.
2. Suppose in the no. 1 case their is calls in arrear of 100 shares which stood on the balance sheet. Now on what amount dividend will be payable.
No Dividend on call in arrear !!
3. As per case no. 1 now the company makes final call on 15/09/2008. At AGM held on 30/09/2008 company declares dividend. Now on what amount dividend will be declared. On full value of shares or partly paid amount
It depends on the time provided to shareholder to pay call (which should be minimum 14 days), if as on the record date this time has elapsed, and article provides dividend only payable on paid on amout, then , then only on partly paid amt.
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