Okla. Stat. tit. 18, § 18-1052: Declaration and Payment of Dividends

DECLARATION AND PAYMENT OF DIVIDENDS

No corporation shall pay dividends except in accordance with the

provisions of the Oklahoma General Corporation Act. Dividends may

be paid in cash, in property, or in shares of the corporation's

capital stock. If the dividend is to be paid in shares of the

corporation's theretofore unissued capital stock, the board of

directors, by resolution, shall direct that there be designated as

capital in respect of such shares an amount which is not less than

the aggregate par value of par value shares being declared as a

dividend and, in the case of shares without par value being declared

as a dividend, such amount as shall be determined by the board of

directors. No such designation as capital shall be necessary if

shares are being distributed by a corporation pursuant to a split-up

or division of its stock rather than as payment of a dividend

declared payable in stock of the corporation.