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.
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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
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
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
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