XIII. Profit Sharing
Article index
- Charter Tan Tao investment – industry corporation
- Introduction
- II. Name, form, headquarters, legal representative, branches, representative offices and operating term of the company
- III. Objectives, business scope and operations of the company
- IV. Chartered Capital, Shares And Founding Shareholders
- V. Organization, management and control
- VI. Shareholders And Shareholders Meeting
- VII. Board Of Directors
- VIII. Managing Director, Other Managers And Company Secretary
- IX. Authorized tasks of members of the board of directors, managing director and managers
- X. Supervisory Board
- XI. Authority To Investigate The Company’s Books And Records
- XII. Employees And Unions
- XIII. Profit Sharing
- XIV. Bank Accounts, Fund Establishment, Fiscal Year, And Accounting System
- XV. Annual Reports, Responsibility To Provide Reports, Public Announcements
- XVI. Company Auditing
- XVII. Seal
- XVIII. Termination of operations and liqudation
- XIX. Settlement Of Internal Disputes
- XX. Charter Amendment
- XXI. Effective Date
Article 34 Dividends
34.1. According to a decision of the Shareholders Meeting and as regulated by the Law, dividends will be announced and paid from the Company’s retained profits, but cannot exceed the limits proposed honestly by the Board of Directors after consulting Shareholders at the Shareholders Meeting.
34.2. As regulated by the Enterprise Law, the Board of Directors can pay mid-term dividends if this payment is in line with the Company’s profit-making capability.
34.3. Except in cases where any share has accompanying rights or the terms of share issue stipulate differently, dividends (including shares not completely paid for within the time the dividends are paid) are paid in a proportion correlative to the amount paid to purchase the share during the dividend’s paying period.
34.4. The Board of Directors can propose that the Shareholders Meeting approve the paying of dividends in full or in part with specific assets (possibly with fully-paid shares or bonds issued by other companies) and the Board of Directors is to implement the decision.
34.5. Dividends or other payments in cash for or relating to a share must be done in Vietnamese currency and can be paid by check or postal money order to the registered address of the beneficiary shareholder, and the shareholder is to bear all the risk. In addition, all dividends and other payments paid in cash for or relating to a share can be made by bank transfer when the Company has the information about the Shareholder’s bank necessary to make a direct transfer. When the Company makes payment with all the correct detailed information as supplied by the Shareholder, the Company is not responsible for any payment paid by the Company but not received by the Shareholder. The dividends payment for shares listed at the Securities Exchange Center can be made via a securities company or custody center.
34.6. According to the approval of Shareholders at the Shareholders Meeting, the Board of Directors can decide and announce that owners of common shares can choose to receive their dividends in common shares instead of in cash.
34.7. According to the Enterprise Law, the Board of Directors, through its resolution, can designate a specific day (closing day) to close the books on the Company’s operations. Following that day, people registered as Shareholders or people owning other securities get the right to receive dividends, interest and profit shares, to receive shares, and to receive announcements or other documents. This closing day can be the same day as or any time before the reception of those realized benefits. This does not affect the rights of either party in a related share or securities trade.