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Dividend - Wikipedia, the free encyclopedia The dividend is determined mainly on the basis of the company's unappropriated profit and its business prospects for the coming year (see The dividend decision). The dividend is the same for all shares of a given class (that is, preferred shares or common stock shares). When dividends are paid, shareholders in many countries, including the United States, suffer from double taxation of those dividends: the company pays income tax to the government when it earns any income, and then when the dividend is paid, the individual shareholder pays income tax to the government on the dividend payment. en.wikipedia.org /wiki/Dividend   (1284 words)

Corporate finance - Wikipedia, the free encyclopedia The discipline as a whole may be divided among long-term and short-term decisions and techniques with the primary goal being the enhancing of corporate value by ensuring that return on capital exceeds cost of capital, without taking excessive financial risks. The dividend is calculated mainly on the basis of the company's unappropriated profit and its business prospects for the coming year. There are various considerations: where shareholders pay tax on dividends, companies may elect to retain earnings, or to perform a stock buyback, in both cases increasing the value of shares outstanding; some companies will pay "dividends" from stock rather than in cash. en.wikipedia.org /wiki/Corporate_finance   (2046 words)

Dividend Yield   (Site not responding. Last check: 2007-10-29) A high dividend yield is considered to be evidence that a stock is underpriced, whereas a low dividend yield is considered evidence that the stock is overpriced. According to Sridhar R. Reddy, the dividend yield of the Dow Jones Industrial Average, which is obtained from the annual dividends of all 30 companies in the average divided by their cumulative stock price, has also been considered to be an important indicator of the strength of the U.S. stock market. The dividend yield is a term used among investors in the financial markets as an evaluation of the possible return on an equity investment, such as in the stock market. www.wwwtln.com /finance/63/dividend-yield.html   (1562 words)

Dividend biography .ms   (Site not responding. Last check: 2007-10-29) A dividend is the distribution of profits to a company's shareholders. The amount of the dividend is determined every year at the company's annual general meeting, and declared as either a cash amount or a percentage of the company's profit; see The dividend decision. Credit unions call them dividends because, technically, credit unions are owned by their members, and the interest payments are therefore payments to owners. dividend.biography.ms   (769 words)

Corporate finance - Encyclopedia, History, Geography and Biography In the decision tree each decision generates a "branch" or path, and each event, with its various outcomes has a probability weighted result. Here, using financial options as a framework, the decision to be taken is identified as corresponding to either a call or a put; valuation is then via the Binomial model or, less often, via Black Scholes. Corporate finance, Capital investment decisions, The investment decision, Estimating the present value of future cash flows, Estimating the value of risky cash flows, Estimating the value of options, Using real option valuation, The financing decision, The dividend decision, Working capital management, Relationship with other areas in finance, See also, Related articles and External links. www.arikah.net /encyclopedia/Corporate_finance   (1806 words)

Microsoft investors face decision over dividend | The San Diego Union-Tribune Many Microsoft shareholders are delighted about the company' decision to pay out a special $3 per share cash dividend, but whether they are better or worse off after receiving the one-time dividend depends on what they do with it. If you spend the dividend, as investors are prone to do, you will be worse off (although you will have more gasoline, groceries or other goods or services). In addition to the special one-time dividend, Microsoft said last week it is increasing its regular dividend to 8 cents per quarter, or 32 cents per year. www.signonsandiego.com /uniontrib/20040725/news_1b25micro.html   (738 words)

Dividend Decision The dividend decision of the firm is crucial for the finance manager because it determines: Though the directors decide the rate of dividend, it is always at the interest of the shareholders. Once a stable dividend policy is adopted by a company, any adverse change in it may result in serious damage regarding the financial standing of the company in the mind of the investors. frontier.htmlplanet.com /lc_ddecision.html   (895 words)

Dividend reduced to align with growth strategy; dividend reinvestment discount reduced (TELUS) - Pressi.com   (Site not responding. Last check: 2007-10-29) This dividend is payable on January 1, 2002 to holders of record at the close of business on December 11, 2001. This dividend decision will enable us to invest a greater proportion of internally generated funds into our national data, IP and wireless growth initiatives while maintaining a strong balance sheet. Today's decision reflects our view that the most efficient and optimum allocation of capital for TELUS in the future is to increase the proportion of funds re-invested into our growth initiatives and to reduce the dividend. www.pressi.com /ca/release/38942.html   (424 words)

[No title]   (Site not responding. Last check: 2007-10-29) Rationale for a stock dividend or split The price of stock may not fall precisely in proportion to the share increase; thus, the stockholders' value is increased. To impact earnings per share, thus increasing stock price.ó Ÿ¨Stock RepurchasesŸ ¨¡Share repurchase as a dividend decision: A firm may repurchase its shares, increasing the earnings per share which should be reflected in a higher stock price. Dividends are taxed as ordinary income, whereas any price appreciation resulting from the stock repurchase would be taxed as a capital gain. www.usd.edu /~kramakr/dividends_web.ppt   (518 words)

JS Online: Renaissance Learning dividend draws fire Paying dividends rather than hoarding the cash or deploying it in a way that brings poor returns usually is a laudable action for companies, said Minow, editor at the Corporate Library. The decision to issue dividends is a reflection of confidence in the company's long-term growth prospects and overall financial strength, said president and chief executive John R. Hickey in a Jan. 28 announcement. Such dividends became more attractive as the dividend tax plummeted to a rate of 15% from about 38% under a change last year. www.jsonline.com /bym/news/feb04/207221.asp?format=print   (585 words)

ChinaInsiders | Dividend policy- Corporate finance   (Site not responding. Last check: 2007-10-29) Corporations attach great importance to the dividend decision, because it determines what proportion of earnings is distributed to the shareholders in the form of dividends, and what proportion is set aside for reinvestment purposes. Dividend policy, which is generally considered any direct payment by the corporation to the shareholders, can also provide information to the shareholders how well the company operates. Dividend policy as means for monitoring managers is use to reduce management’s ability to squander the cash so that it can cut agency cost. d1542585.u85.hosted.servetheworld.net /?id=story&art_id=11   (4107 words)

Decision Point ®: Ex-Dividend   (Site not responding. Last check: 2007-10-29) Ex-dividend is the interval between the announcement and the payment of the next dividend. Shareholders must own the stock prior to the ex-dividend date, the date on which the stock goes "ex-dividend", in order to be paid the dividend for the prior period. Because of this, the amount of change from the prior day shown in the newspaper listings may not be the same as the difference between today's close and yesterday's close. www.decisionpoint.com /tacourse/Ex-Dividend.html   (151 words)

Abstract_Shazam_TN   (Site not responding. Last check: 2007-10-29) The situation is particularly interesting given that Telefónica was on the one hand generating large profits, but on the other it was under intense competitive pressure both in the home market and abroad. Important factors such as dividend smoothing, signaling effects, and clientele effects can be discussed. The case also illustrates many other important restrictions that companies must take into account when setting their dividend policy, such as financial constrains, growth opportunities, and restructuring needs, among others. web.iese.edu /JEstrada/Abstract_Telefonica_Case.html   (122 words)

Chapter 18   (Site not responding. Last check: 2007-10-29) Dividends follow the trend in cash flow per share much more closely than the trend in earnings per share. The regular dividend will be increased only when managers believe they have reached a higher level of sustainable earnings. (a) A stock dividend is a bookkeeping reapportioning of the claim size of a share of stock so that there are more shares and each share has a proportionally smaller claim. www.washburn.edu /sobu/rhull/cf18.html   (1647 words)

Dividend Firm Growth Investment -   (Site not responding. Last check: 2007-10-29) The optimal dividend policy for a firm strikes a balance between payment of current dividends and retention of earnings for future growth, and results in the maximization of stock price. This chapter deals with the dividend policy of the firm which is concerned with the question of how much of the earnings of the firm should be distributed to the shareholders, if at all. The dividend growth rate is expected to remain at 8% for year 4 and on. investing.fmqg.com /index.php?k=dividend-firm-growth-investment   (1165 words)

Microsoft doubles dividend The company, which nine months ago announced its first dividend ever, at 8 cents a share, said it plans to increase the dividend to 16 cents a share for the current fiscal year. Although the dividend increase is a promising sign for some smaller shareholders, one pointed out that it's not exactly life changing. Speculation about the possibility of a larger dividend or a huge one-time payout ran rampant leading up to Microsoft's fourth-quarter earnings release in July, in part because the company had recently paid $750 million to settle a lawsuit with AOL Time Warner. seattlepi.nwsource.com /business/139412_msftdividend13.html   (830 words)

APIRA98 Paper #45 Mean of the dividend pay-out ratio shows to gradually decline during 1980's to reach the bottom in 1989, then to reverse the trend, but in general, falls within the requisite maximum level by the guideline. Dividend Guideline Hypothesis: Accounting decisions of banks are two constraints: on the one hand, banks are expected to keep stable dividend streams mainly from cross-holding practice, on the other hand, they are requested to keep the dividend pay-out ratio within 40% of the net income under the dividend guideline. Meanwhile, given the relative fixed dividend policy, once a bank is expected to attain enough earnings to keep the maximum limit of the guideline, a bank manager may be allured to save taxes. www3.bus.osaka-cu.ac.jp /apira98/archives/htmls/45.htm   (6720 words)

Full Text of Working Paper First, it is shown that payment of dividend depends on current and expected earnings as well as the pattern of past dividends. They strongly believe that companies should strive to maintain an uninterrupted record of dividend payments, and they should avoid making changes in dividend policy that might have to be reversed. This is in tone with their perception that the dividend must be paid consistently and continuously. www.iimahd.ernet.in /publications/public/FullText.jsp?wp_no=00000001082   (450 words)

Shareholders asked to see no-dividend decision as investment in future A resolution to forego a dividend this year was passed at the Annual General Meeting of NBIC on Monday night but not without some shareholders voicing objections and bank Chairman Ashton Chase urging that it be seen as an investment in the future. He noted that difficult political, economic and social conditions impacted on revenue costs and provisions and there was need to exercise prudence to ensure the strength of the bank’s balance sheet and the protection of depositors. Chase did not reply to the suggestion that funds which should have gone to pay dividends would be diverted to pay for the acquisition of the GNCB. www.landofsixpeoples.com /news022/ns212113.htm   (638 words)

Practical Financial Management 3e: Chapter 14 The dividend decision may impact the value of the company. The dividend decision may impact the par value of the stock. The dividend theory that stockholders select stocks based on their cash dividend needs and will be upset if the dividend policy changes are called: www.swlearning.com /finance/lasher/pfm3e/quiz14/quiz14.html   (296 words)

VK   (Site not responding. Last check: 2007-10-29) The dividend decision is one such example where there is an embedded principal-agent problem. Managers may resist distributing dividends at the level which would maximize the wealth of the stockholders as prescribed by classical theory. A plausible explanation for this behavior is that managers tend to be risk averse since much of their wealth is tied up in the company in the form stock options, performance incentives and firm-specific human capital. www4.ncsu.edu /eos/users/j/jack/seminars/jan1102.html   (271 words)

Severstal to transfer 1.5 bln rbl to settle Oct.-March dividend. - Russian News - News From Russia The company is intending to pay 28 rbl/common stock to settle annual dividend and to pay 42 rbl/stock as interim dividend. The respective decision was taken by the BOD at April 2 sitting. The first interim dividend was settled by H1'03 result when 194 rbl were paid per common stock. www.gateway2russia.com /st/art_226606.php   (293 words)

Microsoft delights investors with first dividend of $860 million Microsoft said its dividend decision was not a reaction to Bush's proposal and called the timing a coincidence. The annual dividend of 16 cents per share pre-split (8 cents post-split) is payable March 7 to shareholders of record on Feb. 21. Most companies pay dividends quarterly or semi-annually, but some are moving to once-a-year dividends because it saves money on mailing and paperwork. www.sfgate.com /cgi-bin/article.cgi?file=/c/a/2003/01/17/MN89371.DTL   (808 words)

About TELUS | Investors | Events I think it is extremely important to frame today's dividend decision in the right financial, operational and strategic context, as shown on slide 42. From a financial viewpoint, when a company dividend is reduced, investors typically conclude that it cannot afford the dividend and may be in financial distress. The dividend decision announced today is consistent with our strategy and removes one of the main issues overhanging the TELUS stock price. about.telus.com /investors/3Q2001-DarrenEntwistle.html   (1476 words)

The Hindu : Merck to reconsider dividend decision The Hindu : Merck to reconsider dividend decision The board of Merck will reconsider its decision to recommend 50 per cent dividend for the year ended December 31, 2002 following the shareholders' demand to hike dividend payment. The board meeting is scheduled on March 20 to reconsider the rate of dividend recommended for 2001-02 in the January 27 meeting, the company informed the Bombay Stock Exchange today. www.hinduonnet.com /2003/03/07/stories/2003030703251600.htm   (139 words)

SignOnSanDiego.com > News > Business -- Microsoft says it will start paying dividend The dividend is payable March 7 to shareholders of record Feb. 21. Still, Microsoft had long resisted calls that it use some of its ample cash to pay a dividend, saying shareholders were better served by having the management reinvest in new growth opportunities. He also bridled at any suggestion that the dividend decision meant Microsoft was shifting to slow-growth mode. www.signonsandiego.com /news/business/20030117-9999_1b17micro.html   (703 words)

SSRN-Telefonica: The Dividend Decision by Javier Estrada, Jon Gudmundsson SSRN-Telefonica: The Dividend Decision by Javier Estrada, Jon Gudmundsson The situation is particularly interesting given that Telefonica was on the one hand generating large profits, but on the other it was under intense competitive pressure both in the home market and abroad. Estrada, Javier and Gudmundsson, Jon Gardar, "Telefonica: The Dividend Decision" (January 2000). papers.ssrn.com /sol3/papers.cfm?abstract_id=229945   (244 words)

Cisco's Dividend Decision: Tax Missive to D.C. That was the message Cisco CEO John Chambers seemed to be sending to Washington and the consensus of investors and analysts who follow Cisco. Still, although shareholders defeated a dividend proposal by a 10-to-1 ratio, there may be a few other nuances to the defeat, including a poorly crafted proposal and entrenched perception of Cisco as a growth stock. "If dividends were certain not to be double-taxed, we would look at it," Cisco CEO John Chambers said this week in what some viewed as a message to Washington. www.thestreet.com /tech/ronnaabramson/10055383.html   (348 words)

Corporate Finance: Entry Page The third is the financing decision, where we examine the sources of financing and whether there is an optimal mix of financing. The fourth is the dividend decision, which relates to how much a business should reinvest back into operations and how much should be returned to the owners. Finally, there is valuation, where all of the decisions made by a firm are traced through to a final value. pages.stern.nyu.edu /~adamodar/New_Home_Page/CFin/CF.htm   (757 words)

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