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Shareholders’ Resolution – Declaration of Dividends

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Shareholders’ Resolution – Declaration of Dividends

Basic Info

  • Applicable Region UAE
  • Available Languages
    English & Arabic
  • Document No 0000775
  • Version V 1.0
  • Last Updated 02-27-2024
  • Reviews 0
Document Summary

This document records the general assembly’s decision to distribute the dividends related to a project. It lists the total amount to be distributed, date of distribution and percentage of each shareholder. It also grants the authorization to the manager to take the necessary action to implement the dividend distribution.

Description

According to Article 239 of Federal Decree-Law No. 32 of 2021 On Commercial Companies, the International Accounting Practices and Standards are applied when preparing periodical and annual accounts and determining dividends.

According to Article 243 of Federal Decree-Law No. 32 of 2021 On Commercial Companies, the general assembly determines the percentage of net profits to be distributed to the shareholders after deducting the statutory reserve and the optional reserve.

Jurisdiction

This document is intended for use in the United Arab Emirates.

Disclaimer

This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.

Before Execution

  • The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only.
  • Please delete this front page together with the information contained in the headers, footers, and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature.
  • Please remove the square brackets and all highlighting prior to signature.