Dividend credit definition

Dividend credit as used in G.S. 55-6-01(d)(5) means the aggregate of all yearly dividend credits. "Yearly dividend credit" means with respect to noncumulative preferred shares, the amount by which the full dividend preference of such a share, to the extent that such preference is earned by the corporation with respect to such a share in a particular fiscal year, exceeds the dividends paid on said share for that year; provided, that no dividend credit shall accrue unless, and only to the extent that, there exists an earned surplus at the end of such fiscal year. Computations of earnings allocable to classes of shares made in good faith by the board of directors in accordance with generally accepted accounting principles shall be conclusive. For the purpose of this definition, a dividend is deemed paid if it has been declared and funds for its payment have been set aside.
Sample 1Sample 2Sample 3

Examples of Dividend credit in a sentence

  • Similarly, the Large IOUs explain in Section 5.4.3 of the Implementation Plan that it may not be possible to directly label a credit on bills in a manner that clearly identifies the funds as remaining Climate Dividend credit.

  • Executive Director noted the bills included a CEL dividend credit for the 2010 & 2011 Fund Years and also the GCIC Dividend credit for the 2010 and 2013 Fund Years.

  • Dividend credit of the insured held for payment of pre­miums or dividends left to accumulate on deposit as provided in this paragraph may be applied to the payment of pre­ miums in advance upon written request of the insured made before default in payment of a premium.

  • Furthermore, as noted in Section 5.4.5 below, customers owed a Climate Dividend credit may request a check for the full amount owed at any time from their IOU should they wish to obtain immediate payment rather than a rollover credit.

  • The rate changes authorized in this Phase 1 Decision will result in each eligible household receiving a Climate Dividend credit twice per year.

  • Communications in relation to the Company like Notice and Outcome of Board meetings, Dividend credit intimations, Notice of AGM and Annual Report are periodically sent electronically to such shareholders who have registered their email address.In case of any change in relation to the email address, the members are required to intimate the same:a.

Related to Dividend credit

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Dividend Equivalent means a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under Section 9.2.

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Dividend Rate has the meaning set forth in the Statement.

  • Dividend Equivalent Rights means certain rights to receive cash payments as described in Section 3.5.

  • Dividend Equivalent Right means an Award entitling the grantee to receive credits based on cash dividends that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the grantee.

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Dividend Date means a date specified in the Issue Resolution on which a dividend in respect of that preference share is payable.

  • DSUs means the outstanding deferred share units issued under the DSU Plan.

  • Dividend Shares means any shares of Common Stock issuable in lieu of cash dividends paid or to be paid on the Series A Preferred.

  • Dividend Record Date has the meaning set forth in Section 3(a).

  • Dividend Payout Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) the sum of, without duplication, of all dividends paid by the Parent Guarantor on account of any common stock or preferred stock of the Parent Guarantor, except dividends payable solely in additional Equity Interests of the same class, to (b) Funds From Operations, in each case for the four consecutive fiscal quarters of the Parent Guarantor most recently ended.

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Share, as awarded under the Plan.

  • Stock Dividend has the meaning set forth in Section 5(a)(i)(A).

  • Dividend means any dividend (whether interim or final) resolved to be paid on Shares pursuant to the Articles.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Ex-Dividend Time means, with respect to any distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the principal securities market on which the shares of Common Stock are then traded without the right to receive such distribution.

  • Share Unit means either an RSU or a PSU, as the context requires.

  • Maximum Potential Additional Dividend Liability, as of any Valuation Date, means the aggregate amount of Additional Dividends that would be due if the Corporation were to make Retroactive Taxable Allocations, with respect to any fiscal year, estimated based upon dividends paid and the amount of undistributed realized net capital gains and other taxable income earned by the Corporation, as of the end of the calendar month immediately preceding such Valuation Date and assuming such Additional Dividends are fully taxable.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.