Deferred Dividend definition

Deferred Dividend means any Cash Dividend that is expressly declared by the Issuer to be a deferred or delayed dividend or distribution or any analogous or similar term due to any restriction, prohibition or recommendation (other than pursuant to any restrictions under the Capital Regulations) by the competent authority on the Group in respect of any previous financial year(s);

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Deferred Dividend means any Cash Dividend which is expressed by the Bank or declared by the Board of Directors of the Bank to be a deferred or delayed dividend or distribution or any analogous or similar term due to any restriction, prohibition, guidance or recommendation (other than pursuant to any restrictions under Applicable Banking Regulations) by the Relevant Authority in respect of any previous financial year(s).

Deferred Dividend means an amount equal to the product of US $9.4605 Million (one-half of US $18.921 Million) multiplied by a fraction, the numerator of which is a number equal to the number of days beginning with September 24, 2003, the date the Company declared the dividend in 2003, and ending on the Closing Date (exclusive of September 24, 2003 but inclusive of the Closing Date), and the denominator of which is three hundred and sixty-six (366), which amount is to be paid as compensation for earnings of the Company and ▇▇▇▇▇▇▇▇▇ Partnership during the period from September 24, 2003 to the Closing Date. For example purposes only, if the Closing Date is February 15, 2004 and the dividend date was September 24, 2003, the difference between those dates is 144 days. The fraction, the numerator of which is 144 days and the denominator of which is 366, which equals 0.3934. Therefore, the Deferred Dividend would equal US $9.4605 million multiplied by 0.3934 or US $3.722 Million.

Examples of Deferred Dividend in a sentence

• The Employee shall have no right to transfer, pledge, hypothecate or otherwise encumber such Unit Delivered Shares or Deferred Dividend Shares.

• For the avoidance of doubt, no shares of Stock (including Deferred Dividend Shares) shall be payable in respect of the Unit Delivered Shares if the Unit Delivered Shares are forfeited, and no Deferred Dividend Shares shall be payable in respect of any dividend for which the record date falls on or after the date on which the Employee or other person entitled to the Unit Delivered Shares becomes the record owner of such shares of Stock for dividend record-date purposes.

• Once the Unit Delivered Shares and Deferred Dividend Shares vest and the shares of Stock underlying those units or shares have been delivered, but not until such time and only with respect to the shares of Stock so delivered, the Employee shall have the rights of a stockholder, including, but not limited to, the right to vote and to receive dividends.

• Deferred Dividend Equivalents shall be credited to a cash account with respect to the Stock Units (“Cash Account”) maintained by Northern on its books in the name of the Participant.

• The number of Delivered Shares and Deferred Dividend Shares in respect of each vested Performance Share Unit, if any, shall be determined in accordance with Annex A hereto (the “Performance Unit Plan Schedule”).

• For purposes of (ii), the number of Deferred Dividend Shares with respect to any dividend shall be calculated as of the date on which the dividend is paid to holders of Company common stock.

• If the number of shares of Stock (including Deferred Dividend Shares) deliverable with respect to the Restricted Stock Units includes a fractional share, the value of such fractional share (determined as of the trading day immediately preceding the delivery date described in Section 2(d) below) shall be payable in cash in lieu of such fractional share.

• In the case of either (A) or (B), there shall be delivered or paid to the Employee, within ten (10) days following vesting, the Unit Delivered Shares and Deferred Dividend Shares underlying this award, determined on the basis of the Deemed CIC Achievement.

• Subject to Section 2(e), the appropriate number of Unit Delivered Shares and Deferred Dividend Shares, if any (calculated as provided in Section 2(b)) shall not be delivered until the completion of the Performance Period and the Determination Date.

• In the event of a termination of employment by reason of the Employee’s death or Disability occurring after the date hereof but before January 24, 2011, all Performance Share Units shall immediately and automatically vest in full, but the appropriate number of Unit Delivered Shares and Deferred Dividend Shares (calculated as provided in Section 3(b)(ii)) shall not be payable until the completion of the Performance Period and the Determination Date.