According to the law, joint-stock companyshall have the right to distribute a dividend for the first quarter, six months, nine months of the fiscal year and (or) at the end of the financial year. Dividends are paid from the net profit of the company.
For their payments the company's shareholders decide on dividend payment.
For different categories of shares dividends may be paid in a different order.
Dividends on shares - the dutyjoint-stock company. Dividends are paid in certain periods (quarter, six months, nine months, fiscal year). Dividends are paid from the net profit of the company - based on accounting data.
The process of allocation and payment of dividendsIt begins with the adoption of a joint stock company (general meeting of shareholders) of the corresponding solutions. General Meeting of Shareholders determines the size and shape of dividends on shares of all categories and payment types. Prior to this, the board of directors of the company recommends to the general meeting of shareholders of the approximate size of the dividend, and the general meeting shall not be entitled to pay dividends in a larger size than that recommended.
At the general meeting of shareholders are also definedterms and procedure of payment of dividends, if they are not defined by the charter of the company. Dividends shall be paid not later than 60 days from the date of the decision by the general meeting on their payment. Dividends on one category of shares is carried out simultaneously to all shareholders who hold the shares of such category.
The legislation provides for cases where companies limited by shares may not decide on the distribution of dividends and, accordingly, distribute them. These cases include:
1. incomplete payment authorized kapitala-
2. The presence of the bankruptcy of the company or possible signs of their appearance after dividendov- distribution
3. The net asset value of the company is less than its charter capital and reserve fund.
If a decision on the full payment of dividends onpreferred shares, the amount of dividends on which is mounted a statute joint-stock company are not accepted, the Company may not decide to pay dividends on ordinary shares and the preference shares, the size of which the dividend is not installed. Also corporation may not pay dividends on preferred shares, for which the sizedividend is set by the charter, if it was not a decision to pay dividends on the preferred shares that give their holders an advantage in priority to dividends.