1.
Regulation 85 of Table A provides
that the company may declare dividend in its general meeting.
2.
The rate of dividend shall not
exceed the rate recommended by the Board of Directors.
3.
When the company fails to redeem
redeemable preference shares within the specified period, company shall not
declare any dividend on its equity shares, so long as such failure continues.
4.
The company cannot declare
dividends for past years in respect of which accounts are closed at previous
annual general meeting.
5.
The company cannot declare further
dividend after declaration of dividend at Annual General Meeting.
6.
The dividend once declared cannot
be revoked (cancelled).
