Ch 16 Dividend Policy

Ch 16 Dividend Policy - 1 Chapter 16 Payout Policy 2...

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Unformatted text preview: 1 Chapter 16 Payout Policy 2 Dividend Yield for Hong Kong Stocks c Average Dividend yield (Main Board) by Hang Seng Industry classification – February 2010 c http://www.hkex.com.hk/eng/stat/smstat/mthbull/rpt_average_dividend_yield_main_1002.htm c Daily Average Dividend Yield (GEM) c https://www.hkgem.com/statistics/ms1/e_DailyAvgYield.html 3 4 Dividend Yield for a sample of companies included in the Hang Seng Index: au.finance.yahoo.com April 30, 2010 3.20% 0013.HK Hutchison Whampoa 2.53% 0001.HK Cheong Kong 2.92% 1398.HK ICBC 4.53% 0002.HK CLP Holdings 4.59% 0006.HK H K Electric 4.86% 0011.HK Hang Seng Bank Dividend Yield Stock Code Company 5 Dividend Yield for a sample of companies included in the Hang Seng Index: au.finance.yahoo.com April 30, 2010 0.43% 0005.HK HSBC 0.89% 0267.HK Citic Pacific 1.01% 0023.HK Bank of East Asia 2.14% 0762.HK China Unicom 2.25% 3328.HK BankComm 2.35% 0019.HK Swire Pacific Dividend Yield Stock Code Company 6 7 Dividend Yield of a sample of companies included in the Dow Jones Index: finance.yahoo.com April 30, 2010 2.30% WMT Wal-Mart 2.30% BA Boeing Company 2.70% INTC Intel 3.10% MCD McDonalds 3.30% JNJ Johnson & Johnson 3.30% KO Coca Cola Dividend Yield Stock Symbol Company 8 Dividend Yield of a sample of companies included in the Dow Jones Index: finance.yahoo.com April 30, 2010 0.20% BAC Bank of America 0.90% DIS Walt Disney 1.50% AXP American Express 1.70% MSFT Microsoft 1.70% IBM International Business Machines 2.10% GE General Electric Dividend Yield Stock Symbol Company 9 http://www.ft.com/cms/s/0/1c66ad40-4b4a-11df-a7ff-00144feab49a.html 10 11 http://www.nytimes.com/2009/12/31/business/31views.html?scp=9&sq=dividend%20payout&st=cse 12 http://dealbook.blogs.nytimes.com/2010/03/24/starbucks-still-sees-growth-as-well-as-dividends/?scp=15&sq=dividend%20pay 13 http://www.ft.com/cms/s/3/0425cf98-3ff8-11df-8d23-00144feabdc0.html 14 http://www.ft.com/cms/s/0/8c244932-4b25-11df-a7ff-00144feab49a.html 15 16 FINA 111 – Part II FINA 111 Part II Valuation of Securities Measuring and Pricing Risk Financing Policy Bonds Ch 6 Stocks Ch 9 Risk-Return Tradeoff Ch 10 Risk Diversification and Risk Pricing Ch 11 Cost of Capital Ch 12 Debt Policy Ch 15 Payout Policy Ch 16 Done Done Next Done Done Done Done 17 Objective of Financial Management Maximize Value of Firm (Maximize PPS) Welfare of Stakeholders Financial Policies Maximize wealth of investors 18 Financial Policies Short term Assets: Working Capital policy Ch 18 Financing policy: Cost of capital Ch 12 Capital Structure Ch 15 Payout policy Ch 16 Long term Assets: Capital Investment policy Ch 7,8 Maximize Value of firm 19 Firm Valuation Firm Valuation Measuring and Pricing Risk Ch 10,11 Asset Valuation Ch 4,7,8,18 Financing Policies: Cost of Capital Ch 12 Capital Structure Ch 15 Payout Policy Ch 16 Securities Valuation: Bonds Ch 6 Stocks Ch 9 External Factors 20 Payout Policy Cash Payout Policy Stock Payout Policy Cash Distribution Cash Retention Cash Dividend Share Repurchase...
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Ch 16 Dividend Policy - 1 Chapter 16 Payout Policy 2...

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