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Question
Explain the following term/concept.
Unpaid Dividend
Solution
The dividend which is declared by the company but has not been paid by it or claimed by a shareholder within 30 days of its declaration is termed as Unpaid and Unclaimed Dividend. The Unpaid Dividend should be transferred by the company to ‘Unpaid Dividend Account’ opened in a scheduled bank. This transfer should happen within 37 days from the declaration of dividend.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement.
IEPF is created by ______________ where unpaid dividend is transferred by company.
Find the odd one.
Complete the sentence.
Dividend must be paid in______.
Complete the sentence.
Dividend cannot be paid out of ______.
Select the suitable option for the following.
____________ Dividend declared but not paid/claimed
Arrange in Proper Order:
- Transfer to Dividend Account
- Transfer to IEPF
- Transfer to Unpaid Dividend Account
Explain the following term/concept.
Unpaid Dividend Account
Justify the following statement.
Dividend is paid out of profits of the company.
Justify the following statement.
Unpaid dividend cannot be used by the company.
Correct the underlined word and rewrite the following sentence.
Dividend is paid to creditors.
Answer in brief.
Discuss the rules governing unpaid and unclaimed dividend.
Unpaid/unclaimed dividends shall be transferred to Investor Education and Protection fund on expiry of ______ years.
Justify the following statement.
Unpaid/Unclaimed Dividend is governed by some rules.
