Discretionary Dividend definition
Discretionary Dividend means a dividend (either interim or final), other distribution or payment to the extent it exceeds the amount of a Mandatory Dividend.
Discretionary Dividend means any dividend paid on the Series III Company Preferred Securities or any class of Bank Parity Securities (other than a dividend consisting solely of Bank Ordinary Shares or Bank Parity Securities) that was not required to be paid solely as a result of a dividend or other payment having been made on the Series III Company Preferred Securities, any other class of Bank Parity Securities or any Bank Ordinary Shares. Dividends paid on a dividend payment date for the Series III Company Preferred Securities or any Bank Parity Securities may be partially Discretionary Dividends and partially dividends that are not Discretionary Dividends because they are required to be paid as a result of a dividend or other payment having been made on the Series III Company Preferred Securities, any other class of Bank Parity Securities or any other Bank Ordinary Shares. The term “Discretionary Dividend” includes such dividends only to the extent not so required to be paid. To the extent that a payment that would otherwise be a Discretionary Dividend on any class of Bank Parity Securities is not greater than the amount that would be a Mandatory Dividend Payment Amount if the Bank Parity Securities were Series III Company Preferred Securities, such amount shall not constitute a “Discretionary Dividend.”
Discretionary Dividend means any distribution or dividend paid on the Preferred Securities or any class of Cofinoga Parity Securities (other than a distribution or dividend consisting solely of Cofinoga Ordinary Shares) that was not required to be paid solely as a result of a distribution, dividend or other payment having been made on the Preferred Securities, any other class of Cofinoga Parity Securities or any Cofinoga Ordinary Shares. Distributions or dividends paid on a Distribution Payment Date for the Preferred Securities or any Cofinoga Parity Securities may be partially Discretionary Dividends and partially dividends that are not Discretionary Dividends because they are required to be paid as a result of a distribution, dividend or other payment having been made on the Preferred Securities, any other class of Cofinoga Parity Securities or any other Cofinoga Ordinary Shares. The term “Discretionary Dividend” includes such dividends only to the extent not so required to be paid. To the extent that a payment that would otherwise be a Discretionary Dividend on any class of Cofinoga Parity Securities is not greater than the amount that would be mandatorily payable if the Cofinoga Parity Securities were Preferred Securities, such amount shall not constitute a “Discretionary Dividend”;
More Definitions of Discretionary Dividend
Discretionary Dividend means a preferential dividend to be paid to Preference Shareholders, at the discretion of the Board, and which dividend will not exceed 20% of any dividend declared by the Board to all Security Holders in relation to any particular financial year;