Section 323, The Companies Act, 2009

Subject to the company being able to pay its debts as theyfall due, the company may pay dividends out of the following profits:– (a) profits arising from the use of the company’s property although it is a wasting asset; (b) revenue reserves; (c) realised profit on a fixed asset sold, but where more than one asset is sold, the net realised profit on the assets sold.