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illegal dividend

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Illegal dividend
A corporation's dividend that is declared in violation of its charter and/or of state laws, typically because of the way it is calculated.
illegal dividend
A declared dividend that violates the corporate charter or the laws of the state in which the firm is incorporated.
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conveyance and illegal dividend payments in connection with
Borden letter to Japonica Partners by Business Wire
conveyance and illegal dividend payments in connection with
Borden sends letter to Japonica Partners by Business Wire
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