Retention of Dividends Clause Samples
The Retention of Dividends clause establishes that a company may withhold or retain dividends that would otherwise be distributed to shareholders. In practice, this clause can apply in situations where a shareholder owes debts to the company, or when certain conditions—such as regulatory approvals or compliance with contractual obligations—have not been met. Its core function is to protect the company’s financial interests and ensure that dividends are only paid out when all relevant requirements are satisfied, thereby reducing the risk of improper or premature distributions.
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Retention of Dividends. The Board may retain the dividends payable on Shares which any person is under this Constitution entitled to transfer until the person becomes registered as a Member in respect of the Shares or properly transfers them. All unclaimed dividends may be invested or otherwise made use of by the Board for the benefit of the Company until claimed or otherwise disposed of according to law.
Retention of Dividends. The Directors may retain any dividend or other moneys payable on or in respect of a share on which the Company has a Iien and may apply the same in or towards satisfaction of the moneys payable to the Company in respect of that share.
Retention of Dividends. (a) The Board of Directors may retain any dividend or other moneys payable or property distributable in respect of a share on which the Company has a lien, and may apply the same in or toward satisfaction of the debts, liabilities or obligations in respect of which the lien exists.
(b) The Board of Directors may retain any dividend or other moneys payable or property distributable in respect of a share in respect of which any person is, under Articles 22 and 23, entitled to become a shareholder, or which any person is, under such Articles, entitled to transfer, until such person shall become a shareholder in respect of such share or shall transfer the same.
Retention of Dividends. The Trustees are authorised to retain any Dividend received for such period as they consider to be proper.
Retention of Dividends. The Board may retain dividends payable upon shares in respect of which any person is, under Articles 58 to 71 hereinbefore contained, entitled to become a Member, until such person shall become a Member in respect of such shares.
Retention of Dividends. The Trustees shall in respect of any Dividend received be entitled to pay apply or appropriate that Dividend to Customers in accordance with Clause 5.3 at any time during the Financial Year to which that Dividend relates or the following Financial Year provided however that the Trustees may defer payment, application or appropriation of any sum or benefit to any Customers until the Trustees are satisfied that all liability for taxation in respect thereof has been discharged.