ICSI issues Secretarial Standards 3 on Dividend effective 1st January, 2018
The Institute of Company Secretaries of India (“ICSI”) has published the Secretarial Standards 3 on Dividend (“SS-3”) on its website under Secretarial Standard Board. The SS-3 will be effective from 1st January, 2018.
The principles set out in SS-3 relate to declaration and payment of dividend on equity as well as preference share capital in accordance with the provisions of the Companies Act, 2013. The standards are equally applicable to Final as well as Interim dividend unless otherwise stated. The Standard prescribes a set of principles in relation to the declaration and payment of dividend and matters related thereto.
For further read of the Standards please refer to the attachment.
Source: The Institute of Company Secretaries of India.