guaranteed dividends

guaranteed dividends
An expression which is somewhat anomolous so far as it relates to corporate dividends, since dividends are payable only from net profits or surplus earnings, and is ordinarily construed to mean only that dividends are guaranteed in the event there are net profits from which they may properly be dispersed. 19 Am J2d Corp § 872. A "guaranty of dividend" by a corporation is nothing more than a pledge of the funds, legally applicable to the purposes of a dividend. Taft v Hartford P. & F. R. Co. 8 RI 310.

Ballentine's law dictionary. . 1998.

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