Share Dividends

  • Updated

Learn how to create share dividend transactions in Athennian!

In Athennian, there are two types of dividend declarations: Cash Dividends and Share Dividends. In this article, I am going to give you the step-by-step on how to declare a share dividend.

  1. Navigate to the profile of the entity for which you would like to declare a share dividend;

  2. Before you create any transaction, you will want to make sure that you are authorized to declare share dividends on that specific category of shares - to do this, navigate to the Governance > Share Classes section, and then select the category of shares for which you would like to declare a share dividend;

  3. In the 2. Restrictions tab, select Detailed List to open up the list of different types of restrictions attached to the shares;

  4. In this list, ensure that Allow share dividends is checked off;

  5. If Allow share dividends is not checked off when in fact it should be, simply check off Administrative Edit at the bottom of the screen, check off Allow share dividends, and then select Save - this will correct the share class as if it had always had the Allow share dividends checked off;

  6. Once this is confirmed, navigate to the Securities > Shares section down the lefthand side of the screen;

  7. At the top of the screen, ensure that you are looking at the Transactions, Certificates, etc. for the right category of shares;

  8. In the Transactions tab, select + New - a list of various transactions will appear;

  9. Select Share Dividend from the list of transactions - a workflow will open up;

  10. In the Details tab, fill in the Transaction Date and Resolution Date; if you do not yet have these dates, check off Blank Transaction Date/Blank Resolution Date and fill them in at a later time - Note: if you check off Blank Transaction Date, underlines will appear in the documents when you generate them where the dates would have appeared;

  11. Enter the Number of Shares for the share dividend you would like to declare, enter the Price Per Share, and ensure that the Currency is correct;

  12. In the Shareholding tab, select the Person or Entity to which you would like to declare the share dividend;

  13. In the Certificate Issuance tab, ensure that the certificate information is correct;

  14. Review the information you've entered in the Review tab, and then select Draft;

  15. Select Merge Documents to generate the appropriate supporting documents;

  16. Once the documents are generated, select View Documents Now to be redirected to the Documents tab of that entity to view the documents, make the necessary modifications to the documents if need be, and then send them for signature via Athennian Sign or DocuSign.