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Declaration and payment of dividend by the board of director

In accordance with the provisions of sub-section (3) of section 123,the Board of Directors of a company may declare interim dividend during any financial year out of the surplus in the profit and loss account and out of profits of the financial year in which such interim dividend is sought to be declared. 

The following procedure is to be followed for Declaration and Payment of Interim Dividend by the Board of Directors [Section123 to 127and Companies (Declaration and Payment of Dividend) Rules, 2014] :-


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