| Dividend policy is very important for a company’s core financial strategy. Reasonable dividend distribution of listing Corporation is not only closely related to the interests of shareholders and creditors, but also helps to encourage investors to continue to invest, to create a good corporate image, so as to promote its long-term development. Compared to more mature countries in the market, China’s stock market has its own system traces, has not yet developed, leading to the dividend distribution of listing Corporation in our country does not regulate the phenomenon has occurred. The important position of the major shareholders and the proportion of equity, making it easy to seek their own interests and the development of dividend distribution policy. Through these major shareholders own point of view based on the formulation of the dividend policy of "cash" to realize the benefits of transport, to achieve the purpose of "Nuggets", and neglect of corporate social responsibility, ignore the return to investors, or even damage the interests of small shareholders.This article is based on the four years of intensive analysis of the Hareon Solar Tec h’s dividend distribution policy after its backdoor listing and finds that larger shareholde rs of Hareon Solar use the dividend distribution policy satisfy their own interests at the e xpense of enterprise development and the interests of minority shareholders. The Event of High Stock Dividends in 2015 is the result of larger shareholders behaviors of using dividend distribution policy as their own "Nuggets tool" instead of a sudden event. Aim ing at this problem, the departments should strengthen the supervision on the dividend b ehaviors in public companies especially the rule execution and pay more attention to the legal protection of small investors. In addition, the public companies should take the ini tiative to improve the quality of information disclosure, promoting market environment to keep harmony and stability. |
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