Board Resolution Approving Declaration of Dividend & Loan Template

This board resolution approving declaration of dividend & loan template has 2 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our board resolution approving declaration of dividend & loan template:

BOARD RESOLUTION OF [YOUR COMPANY NAME] APPROVING DECLARATION OF DIVIDEND AND LOAN TO SOLE SHAREHOLDER The following resolutions, signed by all the directors of [COMPANY NAME] (the "Corporation"), under the provisions of Section [SPECIFY] of the [COUNTRY] Business Corporations [ACT/LAW/RULE], whereby a resolution in writing signed by all the directors entitled to vote thereon shall be as valid as if it had been adopted at a meeting, are hereby adopted as of [DATE]. DECLARATION OF DIVIDEND WHEREAS it is desirable to declare and pay a preliminary dividend to the shareholders of the Corporation for the fiscal year ended [DATE]; WHEREAS subsequent dividends may be declared by the directors for the fiscal year ended [DATE]; WHEREAS there exists an agreement between the Corporation and the Government of [COUNTRY] to limit any total dividend of the Corporation in a fiscal year to no more than [PERCENTAGE %] of after-tax profits; RESOLVED: THAT an interim dividend of [AMOUNT] [COUNTRY] be, and it is hereby, declared payable on [DATE] on the outstanding shares of the Corporation to shareholders of record on that date relating to after-tax profits for the fiscal year ended [DATE]. LOAN TO SOLE SHAREHOLDER WHEREAS pursuant to paragraph [SPECIFY]) of the [COUNTRY] Business Corporations [ACT/LAW/RULE], a corporation may give financial assistance by means of a loan, guarantee or otherwise to a holding body corporate if the corporation is a wholly-owned subsidiary of the holding body corporate; WHEREAS the Corporation is a wholly-owned subsidiary of [COMPANY NAME] ("[COMPANY NAME]"), its holding body corporate;