Dividend management

The dividend management module is one of the additional modules in Oskari. It can be used in companies and cooperatives. It helps the calculation of dividends and interests, distributing them to members and shareholders, pre-tax calculations and paying to members, shareholders and beneficiaries.

Dividends and interests are calculated according to ownership on a certain day. This can be the day of the general meeting or any other selected day. There are several ways by which the dividends or interests can be calculated. This can be done by the amount of share classes or by use of services offered by the cooperative. All calculated dividends and interests are added to the Oskari database. Oskari contains reports of paid dividends, paid interests, unpaid dividends and unpaid interests. The person getting the dividend or interest can be the shareholder, member or some other beneficiary. For example, a grandfather can donate his dividends to his grandchildren or a grandfather can donate his shares to his grandchildren and keep the dividends for himself.

After calculation and distribution of dividends and interests to shareholders and members, Oskari can make pre-tax calculations and save the amount of tax required to the database. This tax is then deducted from the dividend and interest paid to beneficiaries. For payment Oskari makes a SEPA file to be sent to the bank. It is also possible to use several different banks for paying. If the bank is unable to pay to some bank account, this is recorded in the database and the payment will wait until a correct bank account number has been received from a member or shareholder.

All dividends and interests paid during the previous year can be collected to a file and sent to the tax authority if required.

 

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