Approving Interim Dividend (Board Resolution)
This template is used by the board of directors of a UK company to formally declare and authorise the payment of an interim dividend in accordance with the Companies Act 2006. It records the directors’ consideration of distributable profits and sets out the amount, timing, and payment mechanics of the dividend.
Notes
Unlike final dividends, interim dividends are not recommended to shareholders and do not require an ordinary resolution of the members. Interim dividends are declared solely by the directors, and shareholder approval is not required.
Directors must be satisfied, based on relevant accounts, that the Company has sufficient distributable profits at the time the interim dividend is declared. This should be documented (e.g. management accounts). Directors should consider their general duties under the Companies Act 2006 before approving such dividends, including promoting the success of the Company and exercising reasonable care, skill and diligence.
Interim dividends do not require Companies House filing, but should be properly recorded in the Company’s statutory books and accounted for correctly.
Declaration of Interim Dividend
The directors have reviewed the Company’s management accounts and are satisfied that the Company has sufficient distributable profits to justify the payment of an interim dividend in accordance with Part 23 of the Companies Act 2006 and the Company's Articles.
IT WAS RESOLVED THAT:
Declaration of Interim Dividend
An interim dividend of £[dividend amount per share] per [type of share receiving dividend] share, amounting in aggregate to £[aggregate dividend amount], be and is hereby declared by the directors.
Entitlement
The interim dividend be paid to shareholders whose names appear on the Company’s register of members at [record date].
Payment Date and Method
The interim dividend be paid on or around [dividend payment date] by [dividend payment method].
Authority to Implement
Any director and/or the Company Secretary be authorised to take all steps necessary or desirable to give effect to this resolution, including making the relevant payments and accounting entries.
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England & Wales note
This version is drafted for England & Wales. Scotland and Northern Ireland differ on some points — for example notice periods and tribunal procedure. Tell GitLaw where you hire and it adjusts the draft.
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