Section 51 · Chapter IV, Share Capital and Debentures
Payment of dividend in proportion to amount paid-up
📚 Law Minded summary
If the articles permit, a company can pay dividends in proportion to how much has actually been paid on each share, rather than treating all shares alike.
So someone who has paid the full amount can receive more than someone who has paid only part.
Section 51. Payment of dividend in proportion to amount paid-up
up.—A company may, if so authorised by its articles, pay dividends in proportion to the amount paid-up on each share.