dividend policy of the company, such as joint-stock company - is a kind of distribution of the company's revenue when the dividend, ie the percentage of the profits are distributed to shareholders.How
formed company's dividend policy?This policy forms the board of directors.Much depends on the overall goals of the company, and by this, the current situation in the company.If it was decided to carry out this policy, the company's profit is paid out as dividends.The principle called the dividend policy of the company as a whole is a uniform distribution of profits in the company.
dividend policy of the enterprise is a form of profit sharing that benefit are the owners.
But how dividends affect the price of securities?And here is how.If the size of the dividend is high, it indicates a successful and correct in all respects, the company's policy.Also, it promotes the contribution of new investment in the company's budget.
dividend policy of the company - it is pure not the main source of the company or its financing in the short term.The main and the main thing is net income without dividends.But for a long time in the preparation of the planned dividend increase, and profits of an enterprise, that is dividends and are an impressive part of the resulting company profits.
In the development of enterprises, develop and grow future dividends.Therefore it is very important to combine the two directions of realization of net profit.
shared by several species of areas of influence dividend rate securities.
first theory, called "Theory of Modigliani - Miller" - this is when the company's dividend policy does not affect the overall value of the company and of the profit of shareholders as a whole.
second theory, called "Theory of the preference dividend."Authorship - D. Gordon and David Linter.
This theory maintains that gain or dividend income are valued higher than other income.Therefore, it is necessary to increase the dividend and thus improve the company's dividend policy.
There are other kinds of theories.They imply the choice of the form of dividend policy as a whole.There are three options for the formation of the company's dividend policy.
a conservative view of the profit when the income mainly involves the overall development of the company, as well as the dividends would stand in second place, and used as needed.Conservatively impressed by two types of dividend policy.This residual dividend policy and the policy of minimum stable size.
second type of dividend policy is the aggressive type.In this case, the company's profit is distributed to the distribution of dividends to attract large investments.For large investors is always a pleasure to work in companies with high dividends.Development company in this case is exposed to the background.Aggressive mind, as well as conservative correspond to two types of dividend policy.Policy level and stable policy of continuous increase in the size of the dividend.
The third type is the type of compromise.The name speaks for itself.It's a distinction between conservative and aggressive species.
All types of dividend policies are widely used operating companies in the market today.This is due primarily to the fact that ultimately bring new finance dividends, ie profit.Namely, making a profit is the desired outcome of all economic activity, which are companies in the market of goods and services.This stimulating effect, they have a positive impact on the economy of any self-respecting company.
