| Dividend policy, which is one of the three financial decisions, has long been an issue of interest in western financial literature. While various theories and empirical studies have been suggested to explain corporate dividend policy, litter can be said about the optimal dividend policy.Since dividend policy is not only related to microscopical operation of a company but also related to macroscopical operation of financial market. Senior managers should follow the financial management rules on one hand while making a dividend policy; On the other hand consider the difference on the dividend policy environment between the domestic and overseas listed companies. Senior managers should make a rational dividend policy on the basis of considering various kinds of influence factors of the dividends synthetically, and the policy should redound to a company' s continuously operating and developing. This essay analyses the dividend policy status in our country and different influence factors of the dividend policy, then puts forward the rational dividend policy according to different developing stage of company. I hope this is helpful to the listed companies in making dividend policies.Firstly, this essay introduces the basic theories of western dividend policy and empirical studies in our country. This section supplies the theory evidence to study dividend policy in the listed companies of our country.Secondly, it analyses and compares the dividend models ,types of dividend payments in listed companies of our country , and analyses the status in quo on different point of view, finds the characteristics and problems, and put forwards the correspondcountermeasures.Thirdly, it analyses the dividend policy influence factors and financing characteristics in listed companies of our country, Bringing forward rational dividend policy in different company developing phases.Finally, it chooses B Company as an example, analyzing its dividend policies and putting forward rational advices.
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