Calculating Dividends Sample Clauses

The "Calculating Dividends" clause defines the method and criteria for determining the amount and timing of dividend payments to shareholders. Typically, this clause outlines the formula or basis for calculation, such as net profits, retained earnings, or a fixed percentage, and may specify relevant dates like record and payment dates. By establishing clear rules for dividend distribution, the clause ensures transparency and consistency, helping to prevent disputes and misunderstandings among shareholders regarding their entitlements.
Calculating Dividends. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you deposit non-cash items (such as checks) to your account, and will accrue to, but not including, the day of withdrawal or transfer.
View SourceView Similar (4)
Calculating Dividends. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends on non-cash deposits (checks) begin to accrue on the day the deposit is received by us and will continue to accrue to, but not including, the day of withdrawal or transfer. Fees and Charges. From time to time, your accounts may be subject to various fees and charges as set forth in our Fee Schedule. You agree to pay those charges in connection with your accounts in accordance with that schedule. We will provide advance notice of any increase in the current charges, or any new charges, as required by law. We may deduct any fees or charges from your account. We reserve the right to waive any fees or charges at our sole discretion. Return of Deposits/Closed Accounts. We may, at any time, at our sole discretion, refuse to accept any deposit, or close any or all of your accounts with us without prior notice to you, provided, however, we may not terminate your membership in the Credit Union without satisfying the notice provisions of Credit Union law. If we close an account, we will notify you and send you a check for any balance in your account after deducting all applicable charges. Any withdrawal that reduces the amount in a primary share account to zero may automatically close that account. We are not liable for any draft, withdrawal or other order after an account has been closed. Any drafts presented after your account has been closed will be returned unpaid. We reserve the right to advise consumer reporting agencies and other third parties of accounts closed for misuse.
View SourceView Similar (3)
Calculating Dividends. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you deposit cash or non-cash items (such as checks) to your account, and will accrue to, but not including, the day of withdrawal or transfer. Compounding. We compound your dividends, even though the law doesn't require it. Compounding is more favorable to you, because once dividends have been earned by your account they are added to the balance on which you will continue to earn dividends. Because we compound dividends, the actual yield on your account will be somewhat higher than the annual dividend rate. The Annual Percentage Yield (APY) will be posted along with the annual interest (dividend) rate. For this account type, the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates. Dividends will be compounded quarterly. The perspective dividend rate for each quarter will be determined in the third month of the current quarter. The dividend declaration date for the quarter is the last day of the period, and for the example above is April 1st. Crediting Dividends. Dividends will be credited quarterly. Dividends are not available to you until they have been credited to your account. Even though your account earns dividends every day, we don't actually credit them to your account until the first day of the following quarter. Dividends that are credited to your account will be added directly into your account. If you close your account before dividends are paid, you will not receive the accrued dividends.
View SourceView Similar (2)
Calculating Dividends. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends on non-cash deposits (checks) begin to accrue on the day the deposit is received by us and will accrue to, but not including, the day of withdrawal or transfer. Compounding. We compound your dividends, even though that isn’t required by law. Compounding is more favorable to you, because once dividends have been earned by your account they are added to the balance on which you will continue to earn dividends. Because we compound dividends, the actual yield on your account may be somewhat higher than the annual dividend rate. The Annual Percentage Yield (APY) will be posted along with the annual interest/dividend rate.
View Source

Related to Calculating Dividends

  • Liquidating Dividends If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Registered Holder on the Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.

  • Payment of Dividends Any dividend or other distribution payable in cash in respect of shares may be paid by cheque, made payable to the order of the person to whom it is sent, and mailed to the address of the shareholder, or in the case of joint shareholders, to the address of the joint shareholder who is first named on the central securities register, or to the person and to the address the shareholder or joint shareholders may direct in writing. The mailing of such cheque will, to the extent of the sum represented by the cheque (plus the amount of the tax required by law to be deducted), discharge all liability for the dividend unless such cheque is not paid on presentation or the amount of tax so deducted is not paid to the appropriate taxing authority.

  • Stock Dividends If the Company at any time shall pay a dividend payable in, or make any other distribution (except any distribution specifically provided for in the foregoing subsections (a) or (b)) of the Company's stock, then the Exercise Price shall be adjusted, from and after the record date of such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction (i) the numerator of which shall be the total number of all shares of the Company's stock outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which shall be the total number of all shares of the Company's stock outstanding immediately after such dividend or distribution. The Warrantholder shall thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Preferred Stock (calculated to the nearest whole share) obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares of Preferred Stock issuable upon the exercise hereof immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment.

  • PAYMENT OF DIVIDENDS OR DISTRIBUTIONS 1. Whenever the Fund shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a Certificate setting forth with respect to the Series specified therein the date of the declaration of such dividend or distribution, the total amount payable, and the payment date. 2. Upon the payment date specified in such Instructions or Certificate, Custodian shall pay out of the money held for the account of such Series the total amount payable to the dividend agent of the Fund specified therein.

  • Share Dividends If the Trustee receives any additional shares of capital stock of the Corporation as a dividend or other distribution with respect to any shares of Stock, the Trustee shall hold such shares subject to this Agreement for the benefit of the Stockholders in proportion to their respective interests, and the shares shall become subject to all of the terms and conditions of this Agreement to the same extent as if they were originally deposited hereunder. The Trustee shall issue Voting Trust Certificates in respect of these shares to the Stockholders of record at the close of business on the record date determined pursuant to the provisions of Section 4(d).