Dividend: meaning, valuation and policies in different types of markets

Kursinis darbas anglų kalba. Dividendai. Introduction. Meaning of a dividend. Why companies pay dividends. How dividend is determined. Type of dividends. The process of paying dividends. Dividend decision. Dividend policy in perfect capital markets. Dividends as residual. Dividend patterns and the valuation model. Tradicional view of the dividend decision. An arbitrage criticism. Dividend policy in an imperfect market. Clientele effect. Dividends as signals. Tax considerations. Double taxation - the political debate over dividends. Measures of the dividend policy. Drips - dividend reinvestment plans. Benefits of enrolling in a dividend reinvestment plan. Conclusion. Management beliefs about dividend policy.