August 2011
Beginner
547 pages
16h 12m
English
Content preview from Fundamentals of Financial Management, Third EditionBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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17.3 STABILITY OF DIVIDEND PAYMENTS
17.3.1 Meaning of Stable Dividend
It is a normal practice among the firms to make stable dividend payments. The question, however, is what stability actually means. Stability is often interpreted in three ways. They are as follows:
- Constant dividend per share;
- Stable dividend pay-out ratio;
- Low Constant dividend per share plus extra dividend in times of greater earnings.
Constant dividend per share: If the dividend policy involves constant dividend per share, this implies a constancy in the size of dividend. If a company pays Rs 5 as dividend in the current year, the amount will be the same in years to come in spite of changes in the earnings per share (EPS). However, if there is a consistent upward trend ...
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