Dividend Accrual. (a) Each share of Series C Voting Preferred Stock will accrue an annual cumulative dividend in arrears. The accrual date (the “Dividend Date”) will be the anniversary of the beginning of the Wage Savings Period (the “Wage Savings Date”), commencing on the first anniversary of the Wage Savings Date (unless the Class A Common Stock is Publicly Traded prior to such first anniversary of the Wage Savings Date) and continuing until such time as the Class A Voting Common Stock is Publicly Traded, in which event no dividend will be accrued for the Dividend Year in which the first day on which the Class A Voting Common Stock becomes Publicly Traded occurs. If thereafter during such Dividend Year or during any succeeding Dividend Year the Class A Voting Common Stock should not be Publicly Traded on the business day immediately preceding the Dividend Date for such Dividend Year, the dividend will commence accruing in full once again, in the manner described herein, commencing on the Dividend Date occurring at the end of such Dividend Year.
Dividend Accrual. We may accrue dividends on your Account more frequently than we pay or credit dividends. The dividends that have been calculated, but not paid to the Account, are called accrued unpaid dividends. Your disclosures will indicate compounding and accrual information. (G)
Dividend Accrual. We may accrue dividends on your Account more frequently than we pay or credit dividends. The dividends that have been calculated, but not paid to the Account, are called accrued unpaid dividends. Your disclosures will indicate compounding and accrual information. (G) Changes. Except for any share certificates or Account in which the rate is expressly fixed until maturity, we do not guarantee any particular rate or method for more than one (1) month. We reserve the right to change any rate, term or condition upon reasonable notice to you.
Dividend Accrual. The holder of record of each share of Series A Preferred Stock of the Corporation (a “Holder”) shall be entitled to receive a cumulative share dividend (a “Dividend”) equal to the Dividend Rate (as defined below), payable only when, as and if declared by the Board of Directors. Such dividends will accrue and accumulate annually whether or not they have been declared. The “Dividend Rate” shall mean six percent (6%) of the Purchase Price. For purposes of this Certificate of Designations, the “Purchase Price” for each share of Series A Preferred Stock shall be $2.681682 per share.
Dividend Accrual. Dividends shall begin to accrue and shall be cumulative on each outstanding Unit of Series B Preferred Stock from the Quarterly Dividend Payment Date next preceding the date of issuance of a Unit of Series B Preferred Stock, unless the date of issuance of such Unit is prior to the record date for the first Quarterly Dividend Payment Date, in which case dividends on such Unit shall begin to accrue from the date of issuance of such Unit, or unless the date of issuance is a Quarterly Dividend Payment Date or is a date after the record date for the determination of holders of Units of Series B Preferred Stock entitled to receive a quarterly dividend and before such Quarterly Dividend Payment Date, in either of which events such dividends shall begin to accrue and be cumulative from such Quarterly Dividend Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends paid on Units of Series B Preferred Stock in an amount less than the aggregate amount of all such dividends at the time accrued and payable on such Units shall be allocated pro rata on a Unit-by-Unit basis among all Units of Series B Preferred Stock at the time outstanding. The Board of Directors may fix a record date for the determination of holders of Units of Series B Preferred Stock entitled to receive payment of a dividend or distribution declared thereon, which record date shall be no more than 30 days prior to the date fixed for the payment thereof.
