Dividend credit definition

Dividend credit as used in G.S. 55-6-01(d)(5) means the aggregate of all yearly dividend credits. "Yearly dividend credit" means with respect to noncumulative preferred shares, the amount by which the full dividend preference of such a share, to the extent that such preference is earned by the corporation with respect to such a share in a particular fiscal year, exceeds the dividends paid on said share for that year; provided, that no dividend credit shall accrue unless, and only to the extent that, there exists an earned surplus at the end of such fiscal year. Computations of earnings allocable to classes of shares made in good faith by the board of directors in accordance with generally accepted accounting principles shall be conclusive. For the purpose of this definition, a dividend is deemed paid if it has been declared and funds for its payment have been set aside.
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Examples of Dividend credit in a sentence

  • The Valley Dividend credit may be applied to out-of-pocket expenses owed to Valley Medical Center after all third party and insurance payments have been made.

  • Dividend credit of the insured held for payment of premiums may not be used to satisfy any indebtedness due the United States without the in- sured’s consent.

  • Dividend credit of the insured held for payment of premiums as pro- vided in section 1946 of title 38 U.S.C., may not be used to satisfy any indebt- edness due the United States without the insured’s consent.

  • Similarly, the Large IOUs explain in Section 5.4.3 of the Implementation Plan that it may not be possible to directly label a credit on bills in a manner that clearly identifies the funds as remaining Climate Dividend credit.

  • Dividend credit of the insuredheld for payment of premiums as pro- vided in section 1946 of title 38 U.S.C., 38 CFR Ch. I (7–1–02 Edition)may not be used to satisfy any indebt- edness due the United States without the insured’s consent.

  • Furthermore, as noted in Section 5.4.5 below, customers owed a Climate Dividend credit may request a check for the full amount owed at any time from their IOU should they wish to obtain immediate payment rather than a rollover credit.

  • Dividend credit may be accrued on various types of shares and share certificates as authorized by the board of directors.

  • Dividend credit may be placed on deposit on the same permanent plan upon request of the insured.

  • The installation sector is a particularly strong source of local jobs, representing 80% of the total, while the operation and maintenance sector accounts for 10%20.

  • The rate changes authorized in this Phase 1 Decision will result in each eligible household receiving a Climate Dividend credit twice per year.

Related to Dividend credit

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Dividend Equivalent means a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under Section 9.2.

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Dividend Rate has the meaning set forth in the Statement.

  • Dividend Equivalent Rights means certain rights to receive cash payments as described in Section 3.5.

  • Dividend Equivalent Right means an Award entitling the grantee to receive credits based on cash dividends that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the grantee.

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Dividend Date means a date specified in the Issue Resolution on which a dividend in respect of that preference share is payable.

  • DSUs means the deferred share units granted under the DSU Plan;

  • Dividend Shares means the shares of Common Stock issuable in payment of dividends payable on the Preferred Shares in accordance with the terms of the Certificate of Designation.

  • Dividend Record Date has the meaning set forth in Section 3(a).

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Stock Dividend has the meaning set forth in Section 5(a)(i)(A).

  • Dividend means any dividend (whether interim or final) resolved to be paid on Shares pursuant to the Articles.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Ex-Dividend Time means, with respect to any distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the principal securities market on which the shares of Common Stock are then traded without the right to receive such distribution.

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;