DIVIDENDS, SURPLUS, ETC. The Board of Directors shall have power to fix and vary the amount to be set aside or reserved as working capital of the Corporation, or as reserves, or for other proper purposes of the Corporation, and, subject to the requirements of the Certificate of Incorporation, to determine whether any part of the surplus or net profits of the Corporation shall be declared as dividends and paid to the stockholders, and to fix the date or dates for the payment of dividends.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Superconductor Technologies Inc), Agreement and Plan of Merger (Superconductor Technologies Inc), Agreement and Plan of Merger (Koffee Korner Inc.)
DIVIDENDS, SURPLUS, ETC. The Board of Directors shall have power to fix and vary the amount to be set aside or reserved as working capital of the Corporation, or as reserves, or for other proper purposes of the Corporation, and, subject to the requirements of the Certificate of Incorporation, to determine whether any part of the surplus or net profits of the Corporation Corporation, if any, shall be declared as dividends and paid to the stockholders, and to fix the date or dates for the payment of dividends.
Appears in 2 contracts
Samples: Contribution Agreement (Actava Group Inc), Contribution Agreement (Orion Pictures Corp)
