Dividends on the common stock shall be paid only after dividends are paid on the preferred stock, and the required surplus fund set aside, and shall be not greater than 6 percent per annum, except as provided in this chapter. Dividends on preferred stock shall be not greater than 12 percent per annum and shall be cumulative.
41 Del. Laws, c. 132, § 6; 3 Del. C. 1953, § 8532; 60 Del. Laws, c. 174, § 2.
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