Power to declare dividends

Since the share has not been fully paid up by the owner the above this probably refers to the fact that the articles of association may only entitle the member to share in the dividend proportionally to the extent to which they have fully paid up their share capital.In terms of the model articles for Public Companies this is the case.Dividends are generally declared in terms of pence per share in the UK. So if a dividend of 10 pence per share were declared and the shareholder held one thousand pounds worth of shares in terms of share capital declared on the statement of financial position they would be entitled to a dividend of 50 pounds using the example above.If they had fully paid up their shares they would be entitled to the full dividend of 100 pounds. 1000 shares x 10p = 100 pounds.
However, only 500 pounds fully paid so
500x 10p=50 pounds.