COMPANIES AND ALLIED MATTERS ACT, 2020

Section 432: Right of the shareholders to sue for dividends.

2020Section 432 of 870Federal Republic of Nigeria

(1) Dividends are special debts due to and recoverable by shareholders within 12 years, and actionable only when declared.
(2) Dividends that are unclaimed after 12 years should be included in the profits that should be distributed to the other shareholders of the company.

Cite this section

Section 432, COMPANIES AND ALLIED MATTERS ACT, 2020 (2020).

https://repo.podus.ai/laws/companies-and-allied-matters-act-2020/section/432/