In Lithuania

Wed, 25 Apr 2012, Distribution of interim dividends in Lithuania…

From now on, an interim dividend distribution becomes legitimate in Lithuania.

In Lithuania Company law, an interim dividend is not described as a dividend distributed in advance; it is forbbiden to distribute a dividend for the period that has not started, because companies cannot evaluate their future profits precisely. In other words, companies are not allowed to distribute dividends for the financial year that has not finished yet.
The shareholders that have at least 1/3 of all votes (articles of the company might determine a bigger amount) can initiate the distribution of interim dividends. The required amount is different, compare…

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LITHUANIA is a state in Northern Europe which has borders with Latvia, Russia, Poland and Belarus. Across the Baltic Sea lies Sweden and Denmark. Lithuania covers around 65 thousands square kilometers. The only official language in Lithuania is Lithuanian. Lithuania as a state is a parliamentary republic with internal division of 60 municipalities. The capital of Lithuania is Vilnius. Lithuania is a member of NATO, and the European Union and the Council of Europe. In 2009, Vilnius was the European Capital of Culture and Lithuania celebrated the millennium of its name.