Preferential Non-Cumulative Dividend Clause Samples
Preferential Non-Cumulative Dividend. No dividends shall at any time be declared or paid on or set aside for the Class A subordinate voting shares or the Class B multiple voting shares or any shares of any other class ranking junior to the Class D, Series 1 Shares for any fiscal year unless all dividends payable for such fiscal year of the Corporation on the Class D, Series 1 Shares then issued and outstanding shall have been declared and paid or provided for at the date of such declaration or payment or setting aside.
Preferential Non-Cumulative Dividend. No dividends shall at any time be declared or paid on or set apart for the Common Shares or any other class ranking junior to the Class B Preference Shares unless all dividends up to and including the dividend payable for the last completed full year of the Corporation on the Class B Preference Shares then issued and outstanding shall have been declared and paid or provided for at the date of such declaration, payment or setting apart.