Common use of Dividend Period Clause in Contracts

Dividend Period. For this account type, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend is credited on the first day after the dividend period, and for the example above is February 1. There is no minimum balance requirement for this account. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. If the balance falls below $5.00 for the day your account will not earn a dividend.

Dividend Period. For this account type, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is credited on the first day after the dividend period, and for the example above is February 1. Vacation club accounts can be opened up at any time during the year. There is no minimum balance requirement for required to open this account. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. If the balance falls below $5.00 for the day your account will not earn a dividend.

Dividend Period. For this account type, the dividend period is monthly. For quarterly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January March 31. All other dividend periods follow this same pattern of dates. The dividend is credited on declaration date follows the first day after the ending date of a dividend period, and for the example above is February April 1. There is no minimum balance requirement for this account. Dividends If you close your Holiday Club Savings Account before dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. If the balance falls below $5.00 for the day your account paid, you will not earn a dividendreceive the accrued dividends.