Directors Resolution to Declare Safe Income Dividend | Canada
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.
- Intended for use only in Canada.
Last Updated: 30-September-2021