DIY Legal Forms

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Declaring Stock Dividend

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

WHEREAS, a surplus of $------ resulting from business operations of said Corporation for the fiscal year ending on $------ was reported on the financial statement presented by the Treasurer of said Corporation, it is

RESOLVED, that a stock dividend be and hereby is declared in the amount of $------ per share of the common stock of this Corporation, and it is

Further RESOLVED, that said Treasurer is hereby duly authorized to transfer the sum of $------ from surplus to the capital account to make payment of said stock dividend on [Date] to all shareholders of record as of [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.

Dated:

_________________________

Secretary

Seal: