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Board Resolution For Declaration Of Dividend for Singapore

Board Resolution For Declaration Of Dividend Template for Singapore

A Board Resolution for Declaration of Dividend is a formal document under Singapore law that records the board of directors' decision to distribute profits to shareholders. It must comply with the Companies Act 1967 and ensure the company meets solvency requirements. The resolution specifies the dividend amount, type (interim or final), payment date, and confirms compliance with legal and constitutional requirements. For listed companies, additional SGX requirements apply.

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Board Resolution For Declaration Of Dividend

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What is a Board Resolution For Declaration Of Dividend?

A Board Resolution For Declaration of Dividend is required whenever a Singapore company's board decides to distribute profits to shareholders. This document serves as official evidence of the board's decision and ensures compliance with the Companies Act 1967, the company's constitution, and SGX requirements (for listed companies). The resolution must confirm sufficient profits are available for distribution, specify payment details, and demonstrate consideration of the company's solvency. It's particularly important for corporate governance and serves as a legal record for regulatory compliance.

What sections should be included in a Board Resolution For Declaration Of Dividend?

1. Title and Date: Details of the company and date of resolution

2. Preamble: Statement confirming board meeting details and quorum

3. Financial Position Reference: Reference to financial statements supporting dividend declaration

4. Declaration of Dividend: Formal declaration including amount, type and payment date

5. Closing: Authorization for necessary actions and implementation

What sections are optional to include in a Board Resolution For Declaration Of Dividend?

1. Record Date: For listed companies, specifying the record date for dividend entitlement

2. Tax Considerations: When special tax treatment or withholding applies

3. Special Conditions: Any specific conditions attached to the dividend payment

What schedules should be included in a Board Resolution For Declaration Of Dividend?

1. Financial Statements Extract: Relevant financial information supporting dividend declaration

2. Dividend Calculation: Detailed calculation of dividend amount and rationale

3. Directors' Attendance: List of directors present at the meeting

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

Singapore

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions




















Clauses


















Industries

Companies Act 1967: Primary legislation governing dividend declarations in Singapore, including Section 403 for distribution requirements, Section 76 for payment restrictions, and Section 403(1) specifying dividends must be paid from profits

SGX Listing Rules: For listed companies - includes Rule 704(25) regarding announcement requirements for dividend declarations and requirements for timely disclosure of dividend decisions

Company Constitution: Company's constitutional documents that specify dividend rights, any restrictions on dividend payments, and required procedures for dividend declaration

Income Tax Act: Legislation governing tax implications of dividend payments and requirements for withholding tax

Code of Corporate Governance 2018: Guidelines for corporate governance including board's fiduciary duties in making dividend decisions

Singapore Financial Reporting Standards: Accounting standards that govern requirements for financial statements and profit calculation methods for dividend determination

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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