CAN A DIVI BE VOTED WITHOUT A SPECIFIC VALUE
Strange question i suppose.
Imagine year end is 31st August; directors loan account is overdrawn and decision has been made to clear the o/d loan by voting a divi (reserves not an issue).
Need to vote divi before year end however it is impossible to establish until accounts are prepared the actual level of the DLA;
Can you just vote "at a level to clear the o/d loan" at the date of the minute or must a specific value be placed upon the divi.
All i can find it that there must be a recommendation as to the level of dividend but nothing that says specific amounts.
Any help from the learned people on here would be appreciated!