Stub Dividend definition

Stub Dividend means the prorated quarterly dividend to be paid in respect of the period beginning on the first calendar day of the fiscal quarter in which the Closing occurs and ending on (and including) the Closing Date; provided, that the amount of such prorated quarterly dividend is consistent (taking into account such proration) with the amount of quarterly dividends paid by the JV Entity in the ordinary course of business consistent with past practice.
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Stub Dividend means a dividend (prorated as applicable) to be paid by the Company in respect of the period beginning on the day following the end of the fiscal year with respect to which the last annual dividend of the Company was paid and ending on (and including) the Closing Date; provided, that the amount of such dividend is consistent (taking into account any such proration and any interim dividends paid by the Company during such period) with the amount of dividends to be paid by the Company as contemplated by the Shareholders Agreement.
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Examples of Stub Dividend in a sentence

  • At or prior to the Closing, except as otherwise agreed by Corning and TDCC, Corning and TDCC shall cause the JV Entity to declare and pay to each of Corning and TDCC (a) a special dividend of $25,000,000 ($50,000,000 in the aggregate); (b) any quarterly dividends that would be paid in the ordinary course of business consistent with past practice; and (c) the Stub Dividend.

  • At or prior to the Closing, except as otherwise agreed by Seller and Purchaser, and to the extent permitted under applicable Law, the Company shall, and Seller and Purchaser shall cause the Company to (including by approving shareholder resolutions of the Company to), declare and pay to each of Seller and Purchaser (a) all annual, interim, and special dividends as provided by the Shareholders Agreement; and (b) the Stub Dividend.