General Rule on Dividends. During a Dividend Restriction Period, an FHLBank may pay Dividends on Class A Stock, Class B Stock, or Other FHLBank Stock only out of: (i) Retained Earnings that are not Restricted Retained Earnings, as required by this Agreement; or (ii) that portion of Quarterly Net Income not allocated to Restricted Retained Earnings pursuant to the terms of this Agreement and its amended Capital Plan, if applicable.
Appears in 12 contracts
Samples: Joint Capital Enhancement Agreement, Joint Capital Enhancement Agreement (Federal Home Loan Bank of Atlanta), Joint Capital Enhancement Agreement (Federal Home Loan Bank of New York)