Dividend Right Certificate
"Who typically receives dividend right certificates?"
Quick Answer
These are certificates that do not represent share capital or grant voting rights, but provide the holder with financial rights, such as a share of the company's net profit.
Scope and Legal Distinctions
A dividend-right certificate grants the rights specified within its statutory framework without necessarily making the holder a shareholder. It should not be treated as an ordinary share certificate.
What to Check in Practice
Review the issue terms, corporate approvals and economic rights, including entitlement on distributions and liquidation.
Sources & Authorities
Statutory framework and official guidance for this definition.
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