Canada Directors Resolution to Declare Safe Income Dividend
Declare a safe income dividend for shareholders of a Canadian corporation with this downloadable Directors Resolution template.
- The corporation's directors declare a 'safe income' dividend pursuant to the Income Tax Act (Canada) on a specified class of shares.
- Payment of the dividend is conditional upon the shareholders' undertaking to repay their pro rata share of the dividend if the total cumulative dividend exceeds the 'safe income' as determined by the corporation's accountants.
Canadian law requires the directors to give corporate approval by passing a resolution before a safe income dividend can be declared. Buy and download the form now.
Last Updated: 14-April-2016