Section 104, Cap. 287

The Directors may, with the sanction of a General Meeting, from Declarationtime to time declare dividends, but no such dividend shall be payable except of dividends. out of the profits of the Company. The Directors may, if they think fit, from time to time declare and pay to the members without the sanction of a General Meeting such interim dividends as appear to them to be justified by the position of the Company, and may also from time to time, if in their opinion such payment is so justified, pay any preferential dividends which by the terms of issue of any shares are made payable on fixed dates. No higher dividend shall be paid than is recommended by the Directors, and the declaration of the Directors as to the amount of the net profits shall be conclusive. Deduction from dividends. Reserve fund. Despatch of dividend warrants. Capitalisation of profits.