Dividend Rates Clause Samples
The Dividend Rates clause defines the percentage or amount of profit that will be distributed to shareholders as dividends. It typically specifies how and when dividends are calculated, such as whether they are fixed or variable, and may outline the schedule for payments (e.g., quarterly or annually). This clause ensures transparency and predictability for investors regarding their expected returns, helping to prevent disputes and align expectations between the company and its shareholders.
Dividend Rates. The dividend rate on shares of Municipal Preferred of any series during the period from and after the Date of Original Issue of shares of such series to and including the last day of the Initial Rate Period of shares of such series shall be equal to the rate per annum set forth with respect to shares of such series under "Designation" in Part I of this Section 12.
1. For each Subsequent Rate Period of shares of such series thereafter, the dividend rate on shares of such series shall be equal to the rate per annum that results from an Auction for shares of such series on the Auction Date next preceding such Subsequent Rate Period; provided, however, that if:
(A) an Auction for any such Subsequent Rate Period is not held for any reason other than as described below, the dividend rate on shares of such series for such Subsequent Rate Period will be the Maximum Rate for shares of such series on the Auction Date therefor;
(B) any Failure to Deposit shall have occurred with respect to shares of such series during any Rate Period thereof (other than any Special Rate Period consisting of more than 364 Rate Period Days or any Rate Period succeeding any Special Rate Period consisting of more than 364 Rate Period Days during which a Failure to Deposit occurred that has not been cured), but, prior to 12:00 Noon, New York City time, on the third Business Day next succeeding the date on which such Failure to Deposit occurred, such Failure to Deposit shall have been cured in accordance with subparagraph (f) of this paragraph 2 and the Trust shall have paid to the Auction Agent a late charge ("Late Charge") equal to the sum of (1) if such Failure to Deposit consisted of the failure timely to pay to the Auction Agent the full amount of dividends with respect to any Dividend Period of the shares of such series, an amount computed by multiplying (x) 200% of the Reference Rate for the Rate Period during which such Failure to Deposit occurs on the Dividend Payment Date for such Dividend Period by (y) a fraction, the numerator of which shall be the number of days for which such Failure to Deposit has not been cured in accordance with subparagraph (f) of this paragraph 2 (including the day such Failure to Deposit occurs and excluding the day such Failure to Deposit is cured) and the denominator of which shall be 360, and applying the rate obtained against the aggregate Liquidation Preference of the outstanding shares of such series and (2) if such Failure to Deposit consisted of...
Dividend Rates. The frequency and conditions upon which dividends are paid on all Accounts are in accordance with the Bylaws of this Credit Union and state law. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Dividend Rates. Dividends shall be cumulative, and shall accrue on a daily basis on each Outstanding share of Preferred Stock at the rate per annum (computed on the basis of a 360-day year having twelve thirty-day months) of six percent (6%) of the Liquidation Value of each share of Preferred Stock. To the extent not paid, on a Dividend Payment Date all unpaid dividends accrued on each share of Preferred Stock Outstanding during such quarter (or from and including the original date of issuance of such share in the case of the initial quarter-end after the date of issuance) shall be added to the Liquidation Value of such share and shall remain a part thereof until such dividends are paid.
Dividend Rates. The dividend rate on the Preferred Shares during the period from and after the Date of Original Issue to and including the last day of the Initial Rate Period shall be the Initial Dividend Rate. For each Subsequent Rate Period thereafter, the dividend rate on the Preferred Shares shall be equal to the rate per annum that results from an Auction (but the rate set at the Auction may not exceed the Maximum Rate) on the Auction Date next preceding such Subsequent Rate Period; provided, however, that if an Auction for any such Subsequent Rate Period is not held for any reason (except as provided in paragraph 7 of Part II of this Section 11.1), the dividend rate for such Subsequent Rate Period will be the Maximum Rate on the Auction Date therefore (except (A) during a Default Period when the dividend rate shall be the Default Rate, as set forth in paragraph 2(e)(ii) below, or (ii) after a Default Period and prior to the beginning of the next Dividend Period, when the dividend rate shall be the Maximum Rate at the close of business on the last day of such Default Period). The rate per annum at which dividends are payable on the Preferred Shares for any Rate Period thereof in accordance with this Section 11.1 is herein referred to as the "Applicable Rate."
Dividend Rates. The dividend rate on shares of Municipal Preferred of any series during the period from and after the Date of Original Issue of shares of such series to and including the last day of the Initial Rate Period of shares of such series shall be equal to the rate per annum set forth with respect to shares of such series under "Designation" in Part I of this Section 12.
Dividend Rates. The Company shall deliver to the Agent a copy of each Certificate of Determination. The Agent will, in turn, notify the Securities Depository of the applicable Dividend Rate as soon thereafter as practicable.
Dividend Rates. The dividend rate on shares of Municipal Preferred of any series during the period from and after the Date of Original Issue of shares of such series to and including the last day of the Initial Rate Period of shares of such series shall be equal to the rate per annum set forth with respect to shares of such series under "Designation" in Part I of this Section 12.1. For each Subsequent Rate Period of shares of such series thereafter, the dividend rate on shares of such series shall be equal to the rate per annum that results from an Auction for shares of such series on the Auction Date next preceding such Subsequent Rate Period; provided, however, that if:
Dividend Rates. With respect to each Series A Dividend Period from December 5, 1997 to December 5, 2007, dividends will be calculated on the liquidation preference of such Securities at a fixed rate of 7.738% per annum, calculated on the basis of a 360-day year of twelve 30-day months. Any dividend paid with respect to Series A Preferred Securities on the Business Day following the relevant Series A Dividend Payment Date pursuant to the provisions of Section 7.3(b)(i) shall be paid without adjustment, interest or further payment as a result of the delay. With respect to each Series A Dividend Period commencing on or after December 5, 2007, dividends will be calculated on the liquidation preference of the Series A Preferred Securities, on a weekly basis for each week in such Series A Dividend Period, from and including the LIBOR Reset Date falling in such week to but excluding the LIBOR Reset Date falling in the next succeeding week (each such period, a "Weekly Dividend Period"), at a rate per annum equal to 2.8% plus One-Week LIBOR determined on the related LIBOR Determination Date for such Weekly Dividend Period. The dividend in respect of each Weekly Dividend Period will be calculated on the basis of a 360-day year and the actual number of days in such Weekly Dividend Period. "LIBOR Reset Date" means the Wednesday of each week falling in a Series A Dividend Period commencing on or after December 5, 2007. Each Series A Dividend Payment Date commencing December 5, 2007 will also be a LIBOR Reset Date.
Dividend Rates. Dividends shall accrue cumulatively on each share of Series B Preferred Stock from the date of issuance at a rate per annum equal to $0.80 per share of Series B Preferred Stock calculated on the basis of the actual number of days elapsed in a year. Dividends paid in shares of Series B Preferred Stock shall be paid assuming each share of Series B Preferred Stock used to so pay has a value of $10.00.
Dividend Rates. I will refer to your Schedule of Deposit Rates for specified dividend rate(s) for each type of dividend-bearing Account. I understand that dividend rates and Annual Percentage Yields are subject to change at any time as determined by the Board of Directors.