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. . 1998.

Look at other dictionaries:

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  • Declaration date — The date on which a firm s directors meet and announce the date and amount of the next dividend. The New York Times Financial Glossary * * *    ► See Expiry Date …   Financial and business terms

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