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Sometimes, however, a dividend may be paid out of contributed capital instead. His last position, in the corporate world, was a controller for a corporation in Costa Mesa, CA.
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On its books, these shares were recorded at their cost of ,000. If the fair market value had been less than the book value, a loss, rather than a gain, would have been recognized.
If a corporation wishes to pay a cash dividend but has no cash at the moment, it may issue a special type of note payable to the stockholders promising to pay later. If the scrip pays interest, the interest portion of the payment should be debited to Interest Expense and not be treated as part of the dividend.
Date of payment represents the date that dividend checks are sent to shareholders.
Retained earnings represent the accumulation of all of the earnings that a company has earned and not distributed to its shareholders (owners) since the business started.