Draft a Board resolution for declaration of interim dividend on equity shares and to authorise the Managing Director and Company Secretary through required resolutions enabling them to disburse the same to the members.

Specimen of board resolution for declaration of interim dividend on equity shares RESOLVED THAT an interim dividend of Rs. ______/- on each fully paid up no. of equity shares of Rs. ______/ each of the company amounting to Rs. ______/- be paid out of the profits of the company for the half year ended 20__ to those members of the company whose names would appear on the register of members of the company on the ______ day of 20______. RESOLVED FURTHER THAT a bank account to be designated as 'Interim Equity Dividend (20__) account of ______ Ltd. be opened with ______ bank at its branch at ______ and a sum of Rs. ______/- being the total Interim Dividend amount, be deposited in the said account within 5 days. RESOLVED FURTHER THAT Shri ______ Managing Director and Shri ______, the Company Secretary of the company be and are hereby authorised to open the bank account by signing the account opening form and by furnishing to the said bank the required papers, documents, information etc. and completing all other required formalities for the purpose of opening the bank account and to make arrangements with the said bank for the payment at par, of the interim dividend within thirty days from the date of this resolution. RESOLVED FURTHER THAT Shri ______ Managing director and Shri ______ Company Secretary of the company for the time being, be and are hereby authorised to jointly sign the dividend warrants to be issued on the said bank and the said bank be and is hereby authorised to honour the interim dividend warrants jointly signed by the said authorised signatories, as and when presented for encashment.