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Board Of Directors' Resolution Stating Corporation's Dividend Policy
BOARD OF DIRECTORS' RESOLUTION STATING
CORPORATION'S DIVIDEND POLICY
Pursuant to a duly made and seconded motion, the Board of Directors of [Name of Corporation], hereinafter referred to as "Corporation", unanimously adopted the following resolution:
RESOLVED, that a dividend in the amount of $[Amount of dividend] dollars per annum will be now and hereafter be paid to the holders of the common stock of the Corporation, if
1. The earnings of the Corporation support such payments under the laws of the State of [State of Corporation], and
2. The Board of Directors determines that the payment of such dividends is in the best interests of the Corporation. All such payments will be payable in quarterly installments on [Dates to pay].
The undersigned, [Secretary of Corporation], certifies that he or she is the duly appointed Secretary of Corporation and that the above is a true and correct copy of a resolution duly adopted at a meeting of the directors thereof, convened and held in accordance with law and the Bylaws of said Corporation on [Date of resolution], and that such resolution is now in full force and effect.
IN WITNESS THEREOF, I have affixed my name as Secretary of [Name of Corporation] Corporation and have attached the seal of [Name of Corporation] Corporation to this resolution.
Dated: [Date signed]
Secretary