Andrews Corporate Officers and Directors Liability Litigation Reporter
December 4, 2000
Copyright (c) 2000 Andrews Publications
DIVIDEND ACCRUAL MUST BE DAILY, EVEN IF PAID YEARLY, COURT RULES
Smith v. Nu-West Indus.
When Nu-West Industries Inc. redeemed the stock of its preferred shareholders it was obligated to pay dividends on the 11-month period immediately preceding the redemption because the dividends accrued on a daily basis, even though they were paid...