CP

524 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases either case, the stockholder must pay taxes on the amoun ...

Summary of Factors Influencing Dividend Policy 525 capital, and (4) effects of dividend policy on rs. Each of these categories h ...

526 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases 3.Control.If management is concerned about maintaining c ...

Stock Dividends and Stock Splits 527 The effects of asymmetric information suggest that, to the extent possible, man- agers shou ...

528 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases manufacturer, for this purpose. Since its inception, Por ...

Stock Dividends and Stock Splits 529 that small stock dividends create bookkeeping problems and unnecessary expenses, so firms t ...

530 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases Stock Repurchases A stock repurchaseoccurs when a compan ...

Stock Repurchases 531 valueofoperationsplusthevalueoftheextracash.Wecanfindthepricepershare,P 0 , bydividingthetotalvaluebythenu ...

532 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases A Tale of Two Cash Distributions: Dividends versus Stock ...

Stock Repurchases 533 or signaling effects. But what happens when the end of the year arrives? The stock pricehasgrownto$115.50, ...

534 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases because repurchases can be varied from year to year with ...

Summary 535 Explain how repurchases can (1) help stockholders hold down taxes and (2) help firms change their capital structures ...

536 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases factors should be considered by firms that are consideri ...

Self-Test Problem 537 What is the difference between a stock dividend and a stock split? As a stockholder, would you prefer to s ...

538 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases c.If a 60 percent payout ratio is maintained for the for ...

Spreadsheet Problem 539 company will return to its previous 10 percent growth rate. Keenan’s target debt ratio is 40 percent. a. ...

540 CHAPTER 14 Distributions to Shareholders: Dividends and Repurchases Lintner, John, “Distribution of Incomes of Corporations ...

On stock dividends and stock splits, see Baker, H. Kent, and Patricia L. Gallagher, “Management’s View of Stock Splits,” Financi ...

Woolridge, J. Randall, and Chinmoy Ghosh, “Dividend Cuts: Do They Always Signal Bad News?” Midland Cor- porate Finance Journal,S ...

Multinational Financial Management 1 545 15 From the end of World War II until the 1970s, the United States dominated the world ...