76. The Directors may from time to time, with the sanction of the Company in general meeting, declare and pay a dividend to the shareholders, and they may at any time or times, with the like sanction, declare and pay a bonus to the shareholders. The Directors may also, before recommending or declaring any dividend or bonus, cause to be reserved out of the net profits of the Company, and page 33 to be carried to such separate account as they may direct in the accounts of the Company, any sum which they may think proper or desirable for equalising dividends to be paid at half-yearly or other periods, repairing or maintaining buildings or other works, or covering loss by depreciation or diminution in value of the Company's property, or for meeting any future or unforeseen expenditure or contingencies of risk, liability, or loss; but any such reserve fund and the income thereof, and all the accumulations made therefrom shall at any time be applicable to any purposes to which either the capital or the revenue for the time being of the Company, or any part thereof, may, for the time being, be applicable.

77. No dividend or bonus shall be paid otherwise than out of the profits or estimated profits of the Company, inclusive of reserved profits, after paying or providing for all expenses, outgoings, and liabilities of the Company and deterioration of assets. If shares are issued at a premium, the Directors shall determine if the premium is to be treated as capital or as profit. Each dividend, whether arising from past, or accumulated, or current profits, shall, for all purposes, be deemed to accrue and fall due on the day on which it is declared, and not before.

78. The dividend on each share shall be calculated equitably upon the amount paid up, or duly credited as paid up, exclusive of payments in advance, and, if there shall exist shares having a different amount of capital called up thereon, then the dividend shall be calculated equitably according to the amounts and dates of payment.

79. The Directors may deduct from the dividends or interest payable to any shareholder any money due from him to the Company on account of calls or otherwise.

80. Notice of any dividend that may have been declared shall be given to each shareholder, or sent by post or otherwise to his registered address, and all dividends unclaimed for one year after having been declared shall be invested or otherwise made use of by the Directors for the benefit of the Company until claimed.

81. No dividend shall bear interest as against the Company.

82. The receipt, or an endorsement by signature on the Bank order for the payment of the money, of the person whose name for the time being appears on the register of shareholders as the owner of any share, or of his executors or administrators, shall be a good discharge to the Company in respect of all payments made in respect of the share.

83. If several persons are registered as joint holders of any share, any one of such persons may give effectual receipts as aforesaid, for any dividends payable in respect of such share.