Interim dividend definition

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Paying an interim dividend—private company—flowchart

Paying an interim dividend—private

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How to pay a final or special cash dividend

How to pay a final or special cash dividend A company has an implied power to distribute its profits to its members, unless its articles of association provide otherwise. A dividend is one type of distribution that may be made by a company to its members. In fact, dividends are the most common type of distribution made by a company. However, a company is under no legal obligation to pay a dividend, unless the rights attaching to its shares specify that it must. Any entitlement that a member has to a dividend from a company derives from the shares they hold in that company—any right to a dividend attaches to a class of a company’s shares. No dividend may be declared, or paid, by a company unless it is done in accordance with the respective rights of the shareholders of a company. Different classes of share often have different dividend rights attaching to them. The ordinary meaning of 'dividend' is a share of profits, whether at a fixed rate or...

Tax—types of distribution—dividends

Tax—types of distribution—dividends As further explained in Practice Note: Scope of distributions for tax purposes, distributions can be divided into four categories: • dividends—encompassing paragraph A and explained further in this note • transfers of assets or liabilities—encompassing paragraphs B and G and explained further in Practice Note: Tax-types of distribution—transfers of assets and liabilities • interest recharacterised as a distribution—encompassing paragraphs E and F and explained in further detail in Practice Notes: Types of distribution—interest recharacterised as a distribution: non-commercial securities and Types of distribution—interest recharacterised as a distribution: special securities, and • bonus issues of shares or securities—encompassing paragraphs C, D and H and explained in further detail in Practice Note: Types of distribution—bonus issues Paragraph A—dividends The first type of distribution is any dividend paid by the company, including a capital dividend. In order to determine whether a particular payment or transaction falls within this paragraph, it is necessary to understand the meaning of 'dividend' and 'paid'. Paragraph A makes no reference...

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Board minutes—payment of cash dividend—private limited company (shares)

Board minutes—payment of cash dividend—private limited company (shares) Company number: [insert company number] [insert company name] [LIMITED OR LTD] Minutes of a meeting of the board of directors (the Meeting) of [insert company name] [Limited OR Ltd] (the Company) Held at [insert place of meeting] Held on [insert day, month and year of meeting] at [insert time of meeting][am OR pm] Present: [Insert names of any directors present, whether physically or by any remote means (unless such means are specifically excluded by the company’s articles of association)] [by [insert means of attendance for each director attending remotely]] [ In attendance: ] [[Insert name of anyone in attendance, whether physically or by any remote means, who does not count towards the quorum for the meeting (eg the company secretary, any legal advisers)]] [ Apologies: ] [[Insert names of any directors who are unable to attend the meeting]] 1 Chair, notice and quorum [Insert name] was appointed Chair of the Meeting. The Chair...

Offer document—definitions (Appendix 5)

Offer document—definitions (Appendix 5) Appendix [5]—DEFINITIONS The following apply throughout this document unless the context otherwise requires: [Offeree] or the Offeree • [insert full name of offeree] PLC, a public limited company incorporated in [insert country of incorporation] with registered number [insert number] [Offeree] Directors • the directors of [Offeree] at the date of this document, as set out in paragraph [insert number] of Appendix [4] [[Offeree] Group • [Offeree] and its subsidiary undertakings] [[Offeree] Optionholders • holders of options in the [Offeree] Share Option Scheme [Offeree] Shareholders • holders of Shares [[Offeree] Share Option Scheme • any of [insert names of all the share option schemes operated by offeree]] [Offeree] Warrantholders • holders of [Offeree] Warrants [Offeree] Warrants • the warrants to subscribe for Shares issued under the [Offeree] share warrant instrument dated [insert date]] [Offeror] or the Offeror • [insert full name of offeror], a [public OR private] limited company [and a wholly owned subsidiary of [Offeror Parent]], incorporated in [England...

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Will there be a remittance in circumstances where a non-UK resident company declares a dividend and pays it to a shareholder’s non-UK bank account from monies held in the company's English bank account? The shareholder is a remittance basis user.

Will there be a remittance in circumstances where a non-UK resident company declares a dividend and pays it to a shareholder’s non-UK bank account from monies held in the company's English bank account? The shareholder is a remittance basis user. This Q&A assumes that: • the company holds its assets in its own right and not as a nominee of the shareholder • Conditions C and D set out in sections 809L(4) and 809L(5) of the Income Tax Act 2007 (ITA 2007) are not relevant to this query • at no time does the remittance basis user obtain a proprietary interest in the company's UK bank account A remittance of foreign income or gains will occur if Conditions A and B set out at ITA 2007, s 809L(2) and (3) are met insofar as foreign income or gains (or property derived from them) are brought to, or received or used in, the UK by, or for the benefit of a 'relevant person' or are used to pay for a service...