If company has incurred loss upto immediately preceding the date of declaration of interim dividend ...........

Companies Act-Phase (I & II) Paymentofdividends

If company has incurred loss upto________immediately preceding the date of declaration of interim dividend then, the rate of interim dividend shall not be higher than the average rate of dividend declared by the company during immediately preceding ______ financial years.

The end of financial year; 3

The end of quarter; 3

The end of financial year;5

The end of the quarter; 5

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Explanation:

In case the company has incurred loss during the current financial year upto the end of quarter immediately preceding the date of declaration of Interim Dividend, such interim dividend shall not be declared at a rate higher than the average dividend declared by the company during the immediately preceding three financial years.