Dividends payable Clause Samples
The 'Dividends payable' clause defines the obligation of a company to distribute declared dividends to its shareholders. It typically outlines the timing, method, and conditions under which dividends are paid, such as specifying payment dates or the form of payment (cash, stock, etc.). This clause ensures that shareholders are informed about when and how they will receive their share of profits, providing clarity and predictability regarding dividend distributions.
Dividends payable. We are not required to pay dividends on any amount we may owe to you due to an unauthorized wire transfer arising out of our error unless you exercise ordinary care to discover the unauthorized transfer and promptly advise us of the relevant facts within the time period set forth below in the Account Statements paragraph. Any rate of interest that we might be obligated to pay to you as a matter of law for a delay or incorrect transfer aris- ing out of our error will be the lower of the federal funds rate at the time of the correction or the interest rate that we pay on the Account to or from which the funds transfer should have occurred.
Dividends payable. 4 The Net Asset Statement shall only include the proportionate share of the net assets (as defined in paragraph 3 above) of the Minority Owned Group Companies after taking into account such Group Companies' cash balances and indebtedness - that is the equity accounting method.