DIY Legal Forms

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Declaring An Extra Dividend

Pursuant to a duly made, seconded, and unanimously carried motion, the following resolution was adopted by the Board of Directors of [Name] (hereinafter referred to as Corporation):

WHEREAS, the Treasurer of said Corporation has submitted a financial statement to the Board of Directors showing a surplus of $------, for the fiscal year ending on the [Date], it is hereby

RESOLVED, that the regular dividend of $------ per share shall be supplemented by an additional dividend payment of $------ per share, and it is

FURTHER RESOLVED that the total amount of the regular dividend and the extra dividend shall be $------ per share, and the Treasurer is hereby directed to set aside a sufficient cash surplus for the sole satisfaction of such dividend payments, and the Treasurer is further directed to make such dividends payable to all shareholders of record at the close of business on [Date].

The undersigned, [Name], certifies that [Name] is the duly appointed Secretary of [Corporation] and that the above is a true, accurate, and correct copy of a resolution duly adopted at a meeting of the directors thereof, convened and held in accordance with law and the Bylaws of said Corporation on [Date], and that such resolution is now in full force and effect.

IN WITNESS THEREOF, I have affixed my name as Secretary of [Corporation] and have attached the seal of [Corporation] to this resolution.