DIY Legal Forms

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Declaring A Stock Dividend

WHEREAS, the corporation (Corporation) has capital stock issued and outstanding of ........ dollars ($........) and retained earnings of ........ dollars ($........); and

WHEREAS, it is in the best interests of Corporation to retain ........ dollars ($........) of its present retained earnings by increasing its outstanding capital stock by that amount; and

WHEREAS, Corporation has not issued all of its authorized common no-par stock;

IT IS RESOLVED THAT a dividend of ........ dollars ($........) per share on Corporation's Common Stock is declared payable in shares of Corporation's common no-par stock on [date] to stockholders of record on [date].

IT IS FURTHER RESOLVED THAT each share of Corporation's common no-par stock issued in payment of the dividend be valued at ........ dollars ($........) per share.

[dated]

[name of corporation]

By: [signature]

Secretary

[corporate seal]