英语论文网

licy 
Is the first company's funds to meet the demand as the starting point of dividend policy. According to this policy, the company according to the following steps to determine its dividend distribution is: 
Determine the optimal capital structure of companies; 
• determine the company next year's demand for money; 
Determined according to the optimal capital structure, to meet the demand of capital needed to increase the amount of shareholders' equity; 
, after-tax profits to company first meet next year's increase in demand, the rest was used to distribute cash dividends. 
Fixed or sustained growth dividend policy 
To determine the cash dividend distribution is as the first goal of profit allocation priority consider, generally do not fluctuate with the capital demand fluctuations. The dividend policy has two benefits. 
To stock market, the stability of the dividend amount and the shareholders of a company a stable information. 
Many shareholders as long-term investors (including individual investors and institutional investors) hopes the company dividend can become the stable source of income 'to consumption expenditure, and other various stable balance of the dividend policy is advantageous to the company to attract and stabilize this part of the investor's investment. 
The stable dividend policy, requiring companies make a good judgment ability to pay for the future. In general, the company determined the stability of the dividend amount should not be too high, should leave room, in order to avoid forming the company unable to pay. 
Fixed rate of dividend payment policy 
The policy requiring companies each year according to fixed proportion pay cash dividend from the after-tax profits. From the perspective of enterprise ability to pay, this is a real stable dividend policy) but this policy will lead to frequent change of the amount of dividend distribution company, information is passed to the outside of a company is not stable, so there are few companies adopt a dividend policy. 
Normal dividend extra dividend policy 
According to this policy, by a fixed dividend amount each year in addition to the enterprise grant called normal dividend cash dividends to shareholders, also in higher corporate profits, capital is relatively abundant annual distributed to the shareholders is higher than normal average annual dividend amount of cash dividend. The protruding part is the extra dividend. 
The types and distribution program 
• cash dividend 
• stock dividend. 
• stock repurchase 
By buying back dividend shares held by the way, to distribute cash to shareholders. 
A stock split, 
Large stocks can be divided into small, such as using two new shares in return for a old shares, is without any increase in shareholders' equity on the basis of to increase the number of shares. So to lower the price of the stock trading, improving the liquidity. 
Dividends program 
Shares of the company's dividend distribution scheme shall be determined and announced by the board of directors of the company, usually when it is necessary to be approved by the shareholders' meeting or shareholders' convention to implement (e.g., that is本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。