Chapter 15 - FIN 3403 - PowerPoint

Chapter 15 - FIN 3403 - PowerPoint - FIN 3403 Module 10 -...

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Unformatted text preview: FIN 3403 Module 10 - Chapter 15 Page 1 CHAPTER 15 Distributions to Shareholders: Dividends and Share Repurchases Distribution to Shareholders FIN 3403 - Business Finance Applications Basics Dividend Theories Terminology Payment Procedures Miller & Modigliani Other Theories Characteristics Current Policies Splits, Dividends, and Repurchases Dividend Policy Dividend policy attempts to answer two questions: 1. What proportions of earnings to 1. What proportions of earnings to pay out, on average, in the form of dividends. 2. How to adjust dividend payments to reflect changes in the firm’s earnings stream. FIN 3403 Module 10 - Chapter 15 Page 2 4/15 5/13 5/15 6/1 Dividend Payment Procedure 4/15 5/13 5/15 6/1 Declaration Date Ex-Dividend Date Holder Of Record Date Payment Date Types of Dividends Regular dividend Extra dividend Special dividend Liquidating dividend May also define stock types : Speculative stocks Growth stocks Income stocks Distribution to Shareholders FIN 3403 - Business Finance Applications Basics Dividend Theories Terminology Payment Procedures Miller & Modigliani Other Theories Characteristics Current Policies Splits, Dividends, and Repurchases FIN 3403...
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This note was uploaded on 01/11/2012 for the course FIN 3403 taught by Professor Tapley during the Fall '06 term at University of Florida.

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Chapter 15 - FIN 3403 - PowerPoint - FIN 3403 Module 10 -...

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