The dividend policy in the Joint Stock Company in the jurisprudence of the Supreme Court of the Czech Republic
2012
Abstract
The article deals with two decisions of the Supreme Court of the Czech Republic on dividend payments. The author argue with the court's conclusion that the General Meeting loses competence to decide on the distribution of profits to shareholders after six months from the date on which it was made up annual financial statements.
Author tends to conclude that it is always necessary to decide on the distribution of profit applicable solvency test. The author also takes issue with the conclusion that the payment of bonuses cannot be decided without a decision on profit distribution to shareholders.