Note on Dividend Policy
商品編號：9B18N019
出版日期：2018/01/10
再版日期：2018/10/17
商品來源：
商品主題：Finance
商品類型：Note
涵蓋議題：stocks
難易度：5 - MBA/Postgraduate
內容長度：6 頁
地域：Singapore
產業：Finance and Insurance
事件年度：2018
Profit-making corporations returned cash to investors through dividends or share repurchases. Market participants referred to the fraction of the profits paid to shareholders in the form of dividends as the "payout ratio." However, a large number of firms have never paid a dividend. For instance, over the past decade, more than half of the listed firms in the United States neither paid a dividend nor repurchased shares. For example, only 20 per cent of firms on the Singapore Stock Exchange consistently paid dividends over the past decade, with similar proportions observed in both US and European stock markets. The percentage of dividend-paying firms plummeted to a record low of 17 per cent in 2000. In fact, most of the "new economy" firms such as Amazon, Facebook, and Google, reinvested their entire savings. This note describes rational dividend theories, behavioural dividend theories, and outlines the four categories of dividend strategies followed by firms.
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