Escolar Documentos
Profissional Documentos
Cultura Documentos
Introducti
on :
What is a Dividend ?
What is a Dividend Policy ?
What is Bonus Issue & Stock Split of
shares ?
What is the Buyback and Reverse
Split of shares ?
What is
Dividend?
A dividend is a distribution to
shareholders out of profit or reserve
available for this purpose.
- Institute of Chartered Accountants of
India
What is Dividend
Policy :
Contd.
Legal Restrictions
Magnitude and trend of earnings
Desire and type of Shareholders
Nature of Industry
Age of the company
Future Financial Requirements
Taxation Policy
Stage of Business cycle
Regularity
Requirements of Institutional Investors
Pay-out Ratio
Funds requirement
Liquidity
Access to external sources of financing
Shareholder preference
Difference in the cost of External Equity
and Retained Earnings
Control
Taxes
Contd.
Stability
Types of Dividend
Policy
If Dividend Payout
ratio Increases
1. In case of Growing
firm i.e. where r > k
2. In case of
Declining firm i.e.
where r < k
3. In case of normal
firm i.e. where r = k
Where,
r
If Dividend Payout
Ration decreases
What is Bonus
Issue ?
HUL Introduction
Last 10 Years
Next 4 Years
HUL Analysis
ITC Introduction
ITC Analysis
Nestle Analysis
Comparative Analysis
Bibliograp
hy
Google
Moneycontrol
Economics Times
Wikipedia
Financial Management by Prasanna
Chandra.