ecause the keep the profit is the main method of internal financing in a company it decide the cash flow in-company. it can keep enough cash for the company to pay the debt buy more assets and grow. it very important for companies because the companies must have enough cash to paid some unexpected payout. for example, a significant number of corporation do not pay cash dividends in purpose to conserve cash, they are inclined to buy back shares as a way of returning cash to their shareholders and many corporation pay a regular cash dividend each quarter of every year. the other side dividend policy decides the shareholders income in fact. dividend as signals which one the one hand dividend increases send good new about cash flows and earnings, on the other hand dividend decreases send bad new about cash flow and earning and it will fall the investment confidence of the shareholders. there will be decrease the companies value and financing again if the dividend make shareholds dissatisfactory. in our opinion basic objectives of dividend policy as plan which based in the equipoise companies value and shareholders value, maximize shareholder wealth, keep enough cash for the company permeance the dividend policy show shareholds to the companies financial and management status and companies future plan. dividend policy also can give the information for shareholders invest orientation. it can be change companies market value. (the stock price). so, people no matter the shareholders and manager must be regard the dividend policy very careful.

whether a dividend should be paid, and if so how much are important decisions that depend on the firm’s dividend policy. companies can pay out dividend to their shareholders in two ways. they can pay a cash dividend or they can buy back some of their outstanding shares.² in this case we will be only talking about regular cash dividend and special dividend which are part of cash dividend.

上一页  [1] [2] [3] 下一页