Calculation of dividendsU.K.
71.—(1) Except as otherwise provided by the articles or the rights attached to shares, all dividends must be—
(a)declared and paid according to the amounts paid up on the shares on which the dividend is paid, and
(b)apportioned and paid proportionately to the amounts paid up on the shares during any portion or portions of the period in respect of which the dividend is paid.
(2) If any share is issued on terms providing that it ranks for dividend as from a particular date, that share ranks for dividend accordingly.
(3) For the purposes of calculating dividends, no account is to be taken of any amount which has been paid up on a share in advance of the due date for payment of that amount.
Commencement Information
I1Sch. 3 art. 71 in force at 1.10.2009, see reg. 1