Can a single dividend be paid in several installments?

Yes, depending on the circumstances. When a dividend is declared, the board of directors can determine the terms of its payment, subject to the rights attached to the shares concerned and the rules provided by applicable law.

The dividend may be payable immediately or at a later date. Depending on the terms adopted by the board, payment may also be made in installments when this arrangement is duly authorized.

The decision declaring the dividend should then clearly state:

• the total amount of the dividend or how it is calculated;
• the class or series of shares entitling the holder to the dividend;
• the date of declaration;
• the amount of each payment, when there are several;
• the dates or terms planned for their payment.

A distinction must be made between a dividend payable in several installments and several separate dividends. In the first case, a single dividend declaration provides for multiple payments. In the second, the board of directors makes several decisions to declare dividends during the same period.

Before declaring a dividend with multiple payments, directors must verify the applicable legal conditions and ensure that the chosen arrangements are properly documented.

The resolution or minutes recording the declaration of the dividend should be kept in the company's minutes book.

In summary , a single dividend may, depending on the circumstances, involve several payments on different dates. The terms of these payments should be clearly established at the time of filing and properly documented.