Shareholders will have a right to get the dividents paid more than once a year in Lithuania
Starting from March 1, 2012 a change of the Law of the Joint Stock Companies will come into force. According to the last changes, the shareholders will have a right to decide to have the payment of the dividends in Lithuania earlier than in the end of the fiscal year as if was before when yearly financial report was approved. The only condition for the dividends to be paid earlier in Lithuania is that there is a profit in the company, and the sum of the dividends do not exceed the profit. The company also shall not have any debts which has to paid before the decision to pay the dividends is taken and after the dividends are paid shall be able to fulfill all the obligations. However the dividends shall be paid not oftener that once in 3 months.
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Gencs Valters Law Firm, Riga
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