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Dividend Statements

  • Updated

Details

Shareholders receive their share of the profits from a company when the company pays a dividend.

Directors of a company must consider the following issues before declaring and paying a dividend:

  • A dividend may be paid out of profits of one year without making up losses of previous years.
  • Profits arising from a bona fide revaluation of unrealised fixed assets.
  • Dividends cannot be declared if the result would be that the company is unable to pay its debts.
  • Dividends cannot be declared out of anticipated profits.

Generally, there are two types of dividends: an Interim Dividend paid during the year and a Final Dividend paid at year-end. Directors can declare and pay dividends. 

Important: Dividend statements in CAS 360 are generated based on the selected share type. Where dividends are declared across multiple share types, each dividend must be prepared separately. Dividend documents cannot be combined across different share types within a single production.

How to prepare a dividend statement

From the Main Toolbar, go to Company.
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Select the Company from the list.
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Select Shareholders
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Click Dividends +

Select Add Dividend.

To view or reprepare previously recorded dividends, you can select Review Dividends.
 

Instructions

CAS 360 will display the Dividends screen.

Field Explanation
Date Declared Date the dividends declared by the company directors
Share Type Choose a company share type for which dividends will be paidthe |
Amount type Select either Dividend Per Share or Total Dividend
Dividend Amount Enter the amount paid per share or the total amount paid to all shareholders (depending on the amount type selected)
Franked Amount Enter the Dividend Amount (from above) that has been franked
Dividend Tax Rate Select a rate from the drop-down list. Represents the Franking/Imputed Credit Rate.
Dividend Type Final (issued at the end of the year), Interim (issued midyear), Special (separate from the typical dividend cycle) or Other
Dividend Payment How the dividend is paid to the Company Shareholders. Select either Dividend Paid in Cash, Dividend Credited to Load Account or Other
Payment Date Date the dividend is paid
Payment Currency Enter the Currency Symbol (members'for example AUD $)

Click Save or Save & Prepare Documents

Documents Prepared 

Document Type
Options
Dividend Statement
  • Form Signatory - Select the officer signing.
  • Decimal Places - Set the decimal rounding.
  • Document Template - Change the template used to create the Dividend Statement.
  • Export to Word

  • Set all TFN's as provided

    When toggled on, all Dividend Statements will contain the note Tax File Number: Yes. (Even if the contact does not have a TFN).

    When toggled off, CAS 360 will check if the contact has a TFN or not.
Declaration of Dividend Resolution
  • Document Type - Switch between a Minute or Resolution.
  • Resolution Date Options - Set the date of signing.
  • Date Format - Set the date format.
  • Document Date - Update the date of signing.
  • Document Template - Change the template used for the resolution.
  • Export to Word
Notice of Members Meeting
  • Secretary - Set the signatory.
  • Meeting Address - Review meeting Address.
  • Meeting Time - Set the time of the meeting.
  • Meeting Date - Set the date of the meeting.
  • Notice Date - Set the date of the notice.
  • Document Template - Change the template used for the members meeting.
  • Export to Word
Member Consent
  • Document Date - Update the date of the document.
  • Document Template - Change the template used for the Member Consent.
  • Export to Word
Listing of Dividends Paid 
  • Document Template - Change the template used for the Listing of Dividends Paid.
  • Export to Word
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