Common use of Unclaimed Dividends Clause in Contracts

Unclaimed Dividends. Subject to the provisions of the law relating to unclaimed monies, all dividends unclaimed for one (1) year after having been declared may be invested or otherwise made use of by the Directors for the benefit of the Company until claimed. 148. Entitlement to Dividends Subject to these Articles, all dividends and interest shall belong (subject to any lien of the Company) to those members whose names are on the Register at the date at which such dividend or bonus is declared, or at the date on which such interest is payable respectively, or at such other date as the Directors may determine and shall be paid in the manner set forth in these Articles, notwithstanding any subsequent transfer or transmission of shares.