Dividend Declarations Clause Samples
The Dividend Declarations clause outlines the process and authority for a company to announce and distribute dividends to its shareholders. Typically, this clause specifies who within the company (such as the board of directors) has the power to declare dividends, the conditions under which dividends may be paid, and the timing or frequency of such declarations. By clearly defining these procedures, the clause ensures transparency and consistency in how profits are shared, helping to prevent disputes and manage shareholder expectations regarding dividend payments.
Dividend Declarations. The Borrower will not declare any dividend or distribution that (i) would be paid or scheduled to be paid more than three (3) months from the date of such declaration or (ii) exceeds the Borrower’s reasonably estimated taxable income for the relevant taxable period. Notwithstanding the foregoing, clause (ii) of this Section 6(g) shall not limit any dividend, payment or distribution necessary to maintain the Borrower’sParent’s REIT status, to avoid income tax and to avoid excise tax pursuant to Section 4981 of the Code.
Dividend Declarations. The Borrower will not, nor will it permit any Consolidated Subsidiary to, declare any dividend on any of its shares payable more than 60 calendar days after the declaration date.
Dividend Declarations. After the Company declares a dividend on the ---------------------- Common Stock (other than in shares of capital stock of the Company), it shall give the Holders the notice required to be given under Section 11.2. Except as expressly provided in Section 7.1, if the Company declares a dividend or makes any other distribution to all holders of its Common Stock (other than in shares of capital stock of the Company), the Holders will be required to exercise their Warrants in order to receive any such distribution. If a Holder fails to exercise his Warrant, no adjustment will be made to the number of Warrant Shares issuable upon the exercise of such Holder's Warrants.
Dividend Declarations. The Borrower will not declare dividends or distributions that would be paid or scheduled to be paid more than three (3) months from the date of such declaration.