Payout Policy (exam 3)

Payout Policy (exam 3) - Payout Policy Chapter 16 Payout...

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Payout Policy Chapter 16
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Payout Policies
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Dividend & Stock Repurchases -800 -600 -400 -200 0 200 400 600 800 1000 1200 1 9 8 0 2 4 6 Dividends Repurchases Remaining earnings $ Billions U.S. Data 1980 - 2008
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Dividend Payments Exxon Mobil declares regular quarterly dividend of $.42 per share. Shares start to trade ex dividend. Dividend will be paid to shareholders registered on this date. Dividend checks are mailed to shareholders. April 15, 2009 May 11, 2009 May 13, 2009 June 10, 2009 Declaration Date Ex-dividend Date Record Date Payment Date
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Types of Dividends Cash Dividend Regular Cash Dividend Special Cash Dividend Stock Dividend Stock Repurchase (4 methods) 1. Buy shares on the market 2. Tender Offer to Shareholders 3. Dutch Auction 4. Private Negotiation (Green Mail)
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Dividend Payments Record Date - Person who owns stock on this date received the dividend. Ex-Dividend Date - Date that determines whether a stockholder is entitled to a dividend payment; anyone holding stock before this date is entitled to a dividend. Cash Dividend - Payment of cash by the firm to its shareholders.
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Stock Repurchase - Firm buys back stock from its shareholders. Stock Dividend
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This note was uploaded on 12/10/2011 for the course FIN 302 taught by Professor Kellybrunarski during the Spring '11 term at Miami University.

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Payout Policy (exam 3) - Payout Policy Chapter 16 Payout...

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