declaration of dividend
- Action taken by the board of directors of a corporation which creates a dividend to be paid by the corporation and the right of a stockholder to demand and receive it. 19 Am J2d Corp § 839; involving the creation of a debt owing by the corporation to each stockholder and an appropriation of surplus to the payment of such debt. Maloney v Western Cooperage Co. (CA9 Or) 103 F2d 992.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
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