192 SECRETARIAL PRACTICE
the general meeting at which the dividend is formally declared.
They can then be posted after the meeting. In the case of
large companies the use of machines greatly facilitates the
work of preparing the warrants. But if there is any likelihood
of the company in general meeting declaring a dividend less in
amount than that recommended by the directors, this cannot,
of course, be done. The resolution of the meeting is, however,
in almost all cases merely a formal sanctioning of the previous
recommendation of the board.

The methods of the preparation and despatch of dividend
warrants and the arrangements for their payment are dealt
with fully in Chapter XV.

Forms of Dividend Warrant will be found in Appendix F
(Forms 33 and 34), and also a form of Dividend Request by a
shareholder, requiring the company to pay dividends in a
particular way (Form 35). A similar form, attached to a
request by the company for a specimen signature, which
request is often sent out with share or stock certificates in the
case of new holdings, is also given (Form 36). When forms of
Dividend Request are received by the company, they must
be carefully preserved. At the same time as the dividend
warrants are sent out, a cheque should be sent to the com-
pany’s bankers to cover the total amount to be disbursed by
the bank.

In the case of coupons, arrangements may be made for
their presentation and payment at the company’s bank, or,
if thought fit, at the registered office of the company.

The articles of a company commonly provide that divie
dends may be sent through the post. As regards joint
holders, it is usually provided that the warrants shall, unless
otherwise directed (i.e. by a Dividend Request), be sent
to the registered address of the one whose name stands first
on the register in respect of the joint holding, and that any
one joint holder may give effectual receipts for dividends.

In the event of a dividend warrant being lost or mislaid, a
fresh one should not be issued without a satisfactory in-
demnity. A form of Indemnity and Request for a Duplicate
Dividend Warrant is given in Form 32. Except in cases
where the amount of the dividend is very large, this indemnity
will probably be considered sufficient, but the guarantee of a
third party in addition may occasionally be required.

The payment of dividends to a shareholder may be pre-
vented by notice in lieu of distringas.

As to dividends to infants see p. 106.