Interim dividend is a dividend paid between two annual general meetings of the company,

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Provisions:-

  1. The BOD may declare interim divided from time to time.
  2. The amount of dividend including interim dividend shall be deposited in a separate Bank account within five days from the date of declaration of such dividend.
  3. The amount of dividend so deposited above shall be used for payment of interim dividend.
  4. Since, interim dividend does not constitute a statutory debt and therefore directors can rescind it by passing a resolution.

 

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