An unusual type of dividend waiver - but does it work?

I want to pay each of my shareholders different amounts of dividends on a completely discretionary basis.

I dont want to have alphabet shares as there's too many shareholders. I also do not want the administative issues and uncertainty of asking for waivers annually.

If the shareholders agree (which they do), can I simply have one class of share, give each shareholder one share each, and place a provision in the articles which says shareholders are NOT entitled to equal dividends and shall only receive that amount which the directors determine in respect of each of them?

Does this work?

Any problems?

Any alternative solutions?

Many thanks,

Ray

Comments
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How many shareholders

geoffwolf |

these shareholders have no rights other than divi

raylevy |

I think

geoffwolf |

great. but why....?

raylevy |

Various reasons

geoffwolf |

its not a wheeze, really

raylevy |

you have said

geoffwolf |