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Stating Corporation's Dividend Policy
Pursuant to a duly made and seconded motion, the Board of Directors of [Name] (hereinafter referred to as Corporation) unanimously adopted the following resolution:
RESOLVED, that a dividend in the amount of $------ per annum will be now and hereafter be paid to the holders of the common stock of the Corporation, if
(1) The earnings of the Corporation support such payments under the laws of the State of [State], and
(2) The Board of Directors determines that the payment of such dividends is in the best interests of the Corporation. All such payments will be payable in quarterly installments on the first day 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.