Question

    A listed company declared a final dividend at its Annual

    General Meeting (AGM) held on September 1, 2025. According to Section 124, by which date must the company transfer the unpaid or unclaimed portion of this dividend to a special account titled Unpaid Dividend Account?
    A Within 7 days from the date of the AGM. Correct Answer Incorrect Answer
    B Within 30 days from the date of the AGM. Correct Answer Incorrect Answer
    C Within 37 days from the date of declaration of the dividend. Correct Answer Incorrect Answer
    D Within 45 days from the date of declaration of the dividend. Correct Answer Incorrect Answer
    E Within 90 days from the end of the financial year. Correct Answer Incorrect Answer

    Solution

    Section 123(4):  Dividend must be paid/dispatched within  30 days  of declaration. Section 124(1):  Any amount remaining unpaid or unclaimed after these 30 days must be transferred to the Unpaid Dividend Account within  7 days  after the expiry of the said 30 days. Total:  30 + 7 =  37 days

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