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Interim Dividend

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(Querist)
29 January 2010 Is there any restrictions as to how many times a company can declare an interim dividend during a particular financial year.
Secondly is it necessary to open a separate bank account every time an interim dividendis declared?

Can a company use an account once opened for subsequent distribution of interim dividend?
Please clarify!
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Rasesh

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Rasesh (Expert)
29 January 2010 There is no restriction on the number of times, interim dividend can be declared.

Opening a seperate bank account is required for each set of interim dividend.

The account opened once cannot be used for subsequent interim dividend.
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Ankur Garg

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Ankur Garg (Expert)
29 January 2010 Completely agree with Expert.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
29 January 2010 Agree with Experts.

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