# 12 C.F.R. § 5.66 (2026): Dividends payable in property other than cash

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_66

## Section

- **Citation:** 12 C.F.R. § 5.66 (2026)
- **Heading:** Dividends payable in property other than cash
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter I: COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY / Part 5: RULES, POLICIES, AND PROCEDURES FOR CORPORATE ACTIVITIES / Subpart E: Payment of Dividends by National Banks / § 5.66: § 5.66   Dividends payable in property other than cash.

## Text

In addition to cash dividends, directors of a national bank may declare dividends payable in property, with the approval of the OCC. A national bank must submit a request for prior approval of a noncash dividend to the appropriate OCC licensing office. The dividend is equivalent to a cash dividend in an amount equal to the actual current value of the property, regardless of whether the book value is higher or lower under GAAP. Before the dividend is declared, the bank should show the difference between actual value and book value on the books of the national bank as a gain or loss, as applicable, and the dividend should then be declared in the amount of the actual current value of the property being distributed.
[85 FR 80469, Dec. 11, 2020]

## Nearby sections

- [12 C.F.R. § 5.60 (2026) § 5.60   Authority, scope, and exceptions to rules of general applicability.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_60.md)
- [12 C.F.R. § 5.61 (2026) § 5.61   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_61.md)
- [12 C.F.R. § 5.62 (2026) § 5.62   Date of declaration of dividend.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_62.md)
- [12 C.F.R. § 5.63 (2026) § 5.63   Capital limitation under 12 U.S.C. 56.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_63.md)
- [12 C.F.R. § 5.64 (2026) § 5.64   Earnings limitation under 12 U.S.C. 60.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_64.md)
- [12 C.F.R. § 5.65 (2026) § 5.65   Restrictions on undercapitalized institutions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_65.md)
- [12 C.F.R. § 5.66 (2026) § 5.66   Dividends payable in property other than cash.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_66.md)
- [12 C.F.R. § 5.67 (2026) § 5.67   Fractional shares.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_67.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P5_S5_66. Check the current official text before relying on it. Not legal advice.