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Board Resolution Dividend Distribution for Australia

Board Resolution Dividend Distribution Template for Australia

A Board Resolution for Dividend Distribution is a formal corporate document used in Australia to record the board of directors' decision to distribute company profits to shareholders. The resolution must comply with the Corporations Act 2001 (Cth) and demonstrate that directors have satisfied their duties, particularly regarding company solvency and proper financial assessment. It includes specific details about the dividend amount, payment dates, and any conditions attached to the distribution, while ensuring compliance with Australian corporate law requirements and tax implications.

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Board Resolution Dividend Distribution

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What is a Board Resolution Dividend Distribution?

A Board Resolution Dividend Distribution is a crucial corporate governance document used when an Australian company's board of directors decides to distribute profits to shareholders. This document is required under the Corporations Act 2001 (Cth) to formally record the board's decision-making process and demonstrate compliance with legal requirements, particularly the solvency test under Section 254T. The resolution typically follows a board meeting where directors review the company's financial position, consider future business needs, and determine the appropriate dividend amount. It must include specific details about the dividend payment, including amount per share, record date, payment date, and any applicable franking credits. This document is particularly important for maintaining proper corporate records and protecting directors from potential liability by evidencing their due consideration of relevant factors in declaring the dividend.

What sections should be included in a Board Resolution Dividend Distribution?

1. Meeting Details: Information about the board meeting including date, time, location, directors present, and confirmation of quorum

2. Background: Context for the dividend consideration, including reference to relevant financial periods and company performance

3. Financial Position: Confirmation of the company's ability to pay dividends, including solvency statement and reference to financial tests under Section 254T of the Corporations Act

4. Directors' Consideration: Record of the matters considered by directors in reaching their decision, including financial statements and future business needs

5. Formal Resolution: The actual resolution declaring the dividend, including amount, payment date, and record date

6. Certification: Signature section for chair/company secretary to certify the resolution

What sections are optional to include in a Board Resolution Dividend Distribution?

1. Special Conditions: Required when the dividend has special conditions or is being paid to specific share classes

2. Franking Credits Declaration: Required when specifying the franking percentage of the dividend

3. DRP Provisions: Required when a Dividend Reinvestment Plan is available for this dividend payment

4. Foreign Currency Provisions: Required when dividends are being paid in multiple currencies

5. Related Party Considerations: Required when the dividend distribution involves related party implications

What schedules should be included in a Board Resolution Dividend Distribution?

1. Financial Statement Extract: Relevant extract from financial statements supporting the dividend decision

2. Dividend Calculation Schedule: Detailed calculations showing dividend amount per share and total distribution

3. Payment Timeline: Schedule of key dates including record date, ex-dividend date and payment date

4. Solvency Declaration Support: Financial information supporting the solvency declaration

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions

























Clauses




















Relevant Industries

Financial Services

Mining

Technology

Retail

Manufacturing

Healthcare

Real Estate

Telecommunications

Energy

Consumer Goods

Professional Services

Agriculture

Infrastructure

Transportation

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Secretariat

Board of Directors

Treasury

Tax

Investor Relations

Corporate Governance

Compliance

Company Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Company Secretary

Board Director

Corporate Counsel

Legal Counsel

Financial Controller

Tax Manager

Investor Relations Manager

Corporate Governance Manager

Finance Director

Board Chairman

Compliance Officer

Treasury Manager

Industries





Teams

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