Declaration of interim dividend on equity shares - BR

Board Resolution For Declaration Of Interim Dividend On Equity Shares

RESOLVED THAT an interim dividend of Rs. __ (Rupees ___) only on each fully paid _______ no. of equity shares of Rs. __(Rupees ___) each of the company amounting to Rs___________ be paid out of the profits of the company for the half year ended _________ 20__ to those members of the company whose names would appear on the register of members of the company on the ______ day of _______, 20­­__.

RESOLVED FURTHER THAT a bank account to be designated as “Interim Equity Dividend (2018) Account of __________ Limited” be opened in the name of the company with ________ Bank at its Branch at ________ and a sum of Rs_________, being the total interim dividend amount, be deposited in the said account within five days.

RESOLVED FURTHER THAT Shri _____________, Managing Director and Shri _____________, the Company Secretary be and are hereby authorised to open the bank account by signing the account opening form and by furnishing to the said bank the required papers, documents, information etc. and completing all other required formalities for the purpose of opening the bank account and to make arrangements with the said bank for the payment at par, of the interim dividend within thirty days from the date of this resolution.

RESOLVED FURTHER THAT Shri ___________________, Managing director and Shri _____________, Company Secretary of the company for the time being, be and are hereby authorised to jointly sign the dividend warrants to be issued on the said bank and the said bank be and is hereby authorised to honour the interim dividend warrants jointly signed by the said authorised signatories, as and when presented for encashment.