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Indicator - FL Memo Ltd
Tel: (01233) 653500. Fax: (01233) 647100
customer.services@indicator-flm.co.uk
www.indicator-flm.co.uk
Calgarth House
39-41 Bank Street
Ashford, Kent TN23 1DQ
VAT GB 726 598 394
Registered in England
Company Registration No. 3599719
A company can only pay a dividend if it is first approved by its board of directors or shareholders. For an interim dividend approval is only required from the board. Where there is only one director the resolution can be passed by them alone. The resolution should nevertheless be made and duly minuted.
Dividend approval
To approve an interim dividend a sole director must decide if the company can pay a valid dividend. They must decide if the company has sufficient distributable profits from which the dividend can be paid. They should take into consideration the results of the last approved accounts and any subsequent draft or management accounts, plus any other relevant information.
The resolution to approve the interim dividend should be properly recorded. Use our Resolution of Sole Director to Pay Interim Dividend for this purpose.