DIRECTOR'S DISSENT DECLARATION OF DIVIDEND
Date: [DATE] To: [SECTRETARY NAME], Secretary, [COMPANY NAME] Corporation Subject: Dissent from Board Action Declaring Dividend
I hereby notify you of my dissent from the action taken by the Board of Directors of [COMPANY NAME] Corporation at its meeting of [N], [N], at which the Board voted to declare and pay a dividend of [N] dollars ($[N]) a share to all shareholders of record on [DATE]. As the minutes of that meeting should reflect, I did not attend that meeting. It is my opinion that the dividend authorized by the Board at the aforesaid [DATE], meeting is illegal because there is no surplus to support the payment. I hereby demand that you enter my dissent on the minutes of the meeting of [N], [N], from the Board's action authorizing the aforementioned dividend and that you advise each member of the Board of this demand.
Sincerely,
______________________ Director, [DIRECTOR NAME] [COMPANY NAME] Corporation