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2025 Delaware Code
Title 5 - Banking
Chapter 7. CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES
Subchapter III. Conduct of Internal Corporate Affairs
§ 748. Dividends.
Universal Citation:
5 DE Code § 748 (2025)
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§ 748. Dividends.
The directors of a bank or trust company may declare dividends on common or preferred stock of so much of the net profits of the corporation as they shall judge expedient; but the corporation shall, before the declaration of a dividend on common stock from the net profits, carry 50% of its net profits of the preceding period for which the dividend is paid to its surplus fund until the same shall amount to 50% of its capital stock; and thereafter shall carry 25% of its net profits of the preceding period for which the dividend is paid to its surplus fund until the same shall amount to 100% of its capital stock.
32 Del. Laws, c. 103, § 19; 38 Del. Laws, c. 93, § 1(8); 38 Del. Laws, c. 94, § 28; Code 1935, §§ 2307, 2397; 5 Del. C. 1953, § 748; 60 Del. Laws, c. 458, § 1;
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