Limitation of Dividends (Bonus Shares).

Part of Oral Answers to Questions — British Army. – in the House of Commons on 7 May 1940.

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Photo of Mr John Simon Mr John Simon , Spen Valley

No, Sir; an issue of bonus shares will not count as dividend distribution in respect of the standard year for the purpose of determining the permissible dividend during the war, nor will bonus shares issued after the standard year reckon as an increase of capital for that purpose. Bonus shares issued before the standard year expired will, of course, count as capital.