I am trying to add a dividend. However, when I attempt to select the Share Type I cannot select anything from the drop-down box.
There are three potential causes for this issue. Each will be addressed with a corresponding solution.
Problem 1 - When adding a new dividend, if the Date Declared is earlier than the date of the initial Subscription/Allotment, you will be unable to select a share type. Under these circumstances, the box will be greyed out.
Problem 2 - If there is no existing Subscription/Allotment with the specific share type you are trying to add for the Dividend, then you will not be able to select it. You will be able to determine is this is the cause by being unable to select your share type.
Problem 3 - If there are insufficient shares available then you will be unable to select the share type when adding a dividend. This is often caused by Share Cancellations, Redemptions or Buy-Backs. Under these circumstances, the box will be greyed out.
Solution 1: Date Declared is earlier than the date of the initial Subscription/Allotment
When adding a new Dividend, confirm that the date you're declaring for the Dividend is not earlier than the date of the initial Subscription/Allotment. If this happens, you will be unable to select a Share Type.
See also: Shareholder dates are not correct
Solution 2: No existing Subscription/Allotment with the specific share type
When preparing a Dividend in CAS360, the Share types will be fed directly from existing Share Subscriptions/Allotments found in the Shareholders screen.
To add a new share type:
When adding a Subscription/Allotment, type the desired share type into the Share Type field when entering the Subscription/Allotment. If the share type does not exist, select
You will then be prompted with an ADD NEW SHARE TYPE pop-up.
Type in your share class and the corresponding information in the relevant fields.
Note: The Share Class cannot be more than four characters.
Now when adding a new Dividend, the share type will be available.
Solution 3 Insufficient shares available
When preparing a Dividend in CAS360, you will need to ensure that there is a sufficient amount of shares available for that particular share type when adding a Dividend. Common causes for the number of shares decreasing are Share Cancellations, Redemptions and Buy-Backs.
There are two ways to identify this issue.
- Check the total number of Shares. There may be zero, and there will be no graph on the left-hand side of the screen.
- Check the Current/Historical Register for the corresponding Share type. This can be found under the options tab at the top right of the Shareholders screen.