Dividend board minutes
Editable board minutes for documenting a dividend declaration by a UK limited company.
Use this template to prepare minutes for a board decision declaring a dividend. Replace the bracketed placeholders before downloading and keep the signed copy with the company's statutory records.
This is the board-minutes section only. The dividend voucher will be added as a separate template.
Editor
Complete the template.
Board Minutes
Declaration of Dividend
Company name: [COMPANY NAME] LIMITED
Company number: [COMPANY NUMBER]
Registered office: [REGISTERED ADDRESS]
Date of meeting: [DD MONTH YYYY]
Time of meeting: [HH:MM]
Place of meeting: [ADDRESS / By written resolution]
Present: [DIRECTOR NAME(S)]
1. Quorum
The chairperson noted that a quorum was present and declared the meeting duly convened. [DIRECTOR NAME] acted as chairperson of the meeting.
2. Declaration of interest
In accordance with section 177 of the Companies Act 2006, [DIRECTOR NAME] declared an interest in the proposed dividend as a shareholder of the company. The board noted the declaration and, as permitted by the company's articles of association, [DIRECTOR NAME] was permitted to vote on the resolution.
3. Review of distributable profits
The board reviewed the company's [annual accounts / management accounts] for the period ending [DD MONTH YYYY]. Having considered the company's financial position, the board was satisfied that the company has sufficient distributable profits within the meaning of section 830 of the Companies Act 2006 to justify the proposed dividend, after taking into account:
- All liabilities, including Corporation Tax of [AMOUNT]
- Any prior distributions in the current period
- Sufficient reserves retained for the ongoing working capital needs of the business
The distributable reserves available for the purpose were confirmed as £[AMOUNT].
4. Resolution
IT WAS RESOLVED THAT:
The company pay an [interim / final] dividend of £[AMOUNT PER SHARE] per £1 ordinary share, amounting to a total dividend of £[TOTAL DIVIDEND], in respect of the year ended [YEAR END DATE], to those shareholders registered at the close of business on [RECORD DATE], payable on [PAYMENT DATE].
5. Dividend vouchers
It was noted that dividend vouchers would be prepared and issued to each shareholder in accordance with ITTOIA 2005. Copies would be retained with the company's records.
6. Close of meeting
There being no further business, the meeting was closed.
Signed: ___________________________________
[DIRECTOR NAME]
Chairperson / Sole Director
Date: [DD MONTH YYYY]
Replace the bracketed placeholders before downloading. The download is a Word-compatible document generated in your browser.