S corp dispersments

What is the name of your state (only U.S. law)? CA

How are profits dispersed from an S corp? Are the shareholders entitled to take all of their share of the profits whenever they want to? Does their need to be an approval process?

Go to an accountant and/or attorney. Your questions are so general so as to be able to be answered in many ways.

Disbursements can be made at any time in an S corp with the majority vote of the shareholders unless the corporate docs say otherwise.