Section 42 in The Central Warehousing Corporation Rules, 1963
42. Dividend.
(1)No dividend shall be declared or paid except out of the profits of the Corporation or out of moneys provided by the Central Government for payment of dividend in pursuance of the guarantee given under sub-section (1) of section 5.(2)The dividend shall be paid to persons whose names are entered in the register at the time of declaration of the dividend.(3)The dividend shall be payable in proportion to the amount paid up on each share before the expiry of the year for which the dividend is declared :Provided that, in the case of shares allotted or calls made in the course of the year for which the dividend is declared the dividend shall be payable only in proportion to the period of the year from the date of allotment or, as the case may be, from the date fixed for payment of call money.(4)The dividend shall not bear any interest.
