Which of the following statements about the declaration and payment of dividends under Chapter VIII of the Companies Act, 2013 is accurate?
1
Dividends can be declared out of profits of the current year only.
2
Dividends must be paid within 60 days from the date of declaration.
3
Interim dividends can be declared only from profits earned in the first half of the financial year.
4
Dividends can be declared from profits of the current year or accumulated profits of previous years, after providing for depreciation.
5
Dividends once declared cannot be revoked under any circumstances.