Common use of Nature of Dividends Clause in Contracts

Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. Compounding and Crediting: Dividends will be compounded and credited as set forth on the Rate Schedule. For dividend bearing accounts, the dividend period begins on the first calendar day of the period and ends on the last calendar day of the period. If you close your account before dividends are paid, you will not receive the accrued dividends.

Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a the dividend period. Dividend Compounding and Crediting: Dividends will be compounded Crediting – The compounding and credited as set forth on crediting frequency of dividends and the dividend period applicable to each account are stated in the Rate Schedule. For The dividend bearing accounts, period is the period of time at the end of which an account earns dividend credit. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period. If you close your account before dividends are paid, you will not receive the accrued dividends.