Dividends.

64. No dividend shall be payable except out of the profits arising from the business of the Company.

65. The Directors may before recommending any dividend set aside out of the profits of the Company such sum as they think proper as a reserved fund to meet contingencies or for equalizing dividends or for repairing or maintaining the works connected with the business of the Company or any part thereof and the Directors may invest the sum so set apart as a reserved fund upon such securities as they with the sanction of the Company may select.

66. The Directors may deduct from the dividends payable to any shareholder all such sums of money as may be due from him to the Company on account of calls or otherwise.

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