Модели дивидендной политики: развитые и развивающиеся рынки. Многие компании во всем мире выплачивают дивиденды. Несмотря на статистику уменьшения общего числа компаний совокупная сумма дивидендов продолжает расти. Поэтому неудивительно, что данной теме посвящены множество работ. Перейдем к рассмотрению моделей дивидендной политики. Наиболее значимыми теориями, получившими наибольшее распространение, являются: * Теория нерелевантности дивидендов (Ф. Модильяни и М. Миллер) * Теория
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Introduction The term ‘dividend policy’ refers to “the practice that management follows in making dividend payout decisions or, in other words, the size and pattern of cash distributions over time to shareholders” (Lease et al., 2000, p.29). This issue of dividend policy is one that has engaged managers since the birth of the modern commercial corporation. Surprisingly then dividend policy remains one of the most contested issues in finance. Dividend policy is concerned with financial policies regarding paying
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013096 MBA FINANCE 2 2013-2015 SUBJECT: CORPORATE FINANCE AVAILABILITY OF DIVIDEND POLICY IN CORPORATE SUBMITTED TO: PROF. NEETU SHARMA MBA FINANCE-II MEANING OF DIVIDEND POLICY A dividend refers to that portion of a firm's net earnings which are paid to shareholders. Dividends are paid either in cash or stock. Since dividends are distributed out of the profits, the alternative to the payment of dividends is the retention of earnings. The retained earnings constitute an important source
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Theories for Dividend Policy and Factors Affecting Dividend Payout A Review of the Literature Prepared for, 11038 Corporate Finance 307 School of Economics and Finance Curtin Business School Curtin University Miri Sarawak Campus Abstract The main objective of this literature review is to highlight the major theories for dividend policy that have been discussed and argued by many researchers over the years. It is aim to helping firms’ management to set their dividend policy and provide
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considerable debate on how dividend policy affects a firm’s value. Researchers such as Gordon (1959) believed that dividends increase shareholders wealth, Miller and Scholes (1978) considered dividends to be irrelevant and others such as Litzenberger and Ramaswamy (1979) thought that dividends decrease shareholders wealth. As a result, a number of studies have been undertaken to solve the “dividend puzzle”, a concept which tries to answer the question of whether paying dividends actually makes a difference
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Chapter 13 Dividend Policy Solutions to Problems P13-1. LG 1: Dividend Payment Procedures Basic (a) Retained earnings (Dr.) Dividends payable (Cr.) (b) Ex dividend date is Thursday, July 6. (c) Cash $170,000 Dividends payable Retained earnings $0 $2,170,000 Debit $330,000 $330,000 Credit (d) The dividend payment will result in a decrease in total assets equal to the amount of the payment. (e) Notwithstanding general market fluctuations, the stock price would be expected to drop by the amount
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“The dividend decision is unimportant to the wellbeing of a company.” Discuss Stock is a product of socialization production, and the earliest stock can be tracked back to 17th century. In terms of stock, dividend decision is an important concept, which can not be ignored. Dividend decision is defined as ‘Determines the division of earnings between payments to shareholders and retained earnings.’ ( http://finance.mapsofworld.com/corporate-finance/investment-decision/dividend.html ) Dividend decision
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Contents 1.0 Introduction 2 2.0 Dividend Irrelevant Theory 2 3.0 Company Listed at Bursa Malaysia 3 3.1 Zelan Berhad 3 3.2 FACB Industries Incorporated Berhad 4 3.3 Carlsberg Brewery Malaysia Berhad 5 3.4 Axiata Group Berhad 6 4.0 Others Factors Affect Dividend Policy 7 5.0 Impact of Tax on Dividend Policy 8 6.0 Conclusion 8 7.0 References 9 8.0 Appendix 10 1.0 Introduction Company may return to their shareholder by paying dividend or repurchasing back the shares
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Dividend Policy at Linear Technology from StudyMode Of the 16 companies on the SOX index, six paid dividends and Linear Technology is one of them started at the second quarter in 1993 which is 5.3 million in total. However, in the case, according to Coghlan, “The quarterly dividend was initially set at $0.05 per share. This amounted to $8.3 million, or 15% of FY 1994 earnings.” And their most recent dividend in 2002(cause in the exhibit2, there’s only threes quarter’s data in 2003, so that’s why
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Contents 1. Introduction 2 2. Dividend payout theories 2 3. Change in dividends only because of necessarily 3 4. Clientele Dividend of Shareholders 6 5. The Taxes Liability as an Effect on Dividend Policy 7 6. Conclusion 7 References 8 1. Introduction Dividend indicates a share profit delivered to shareholders regarding to certain payout ratio. An efficient firm normally saves their finance to wait opportunities from acquisitions which affects earnings realistically. Afterward
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