Research On The Dividend Distribution Policy Of Mei Ling Electric Appliances

Dividend policy is one of the core content of listing Corporation financial management activities, not only affect the company's operations, is closely linked with the future development of the company. Good dividend policy can not only for the long-term development of the company to solve the problem of the allocation of surplus funds, but also for the company in the minds of investors to establish a good image and win the potential investment opportunities to achieve the maximization of corporate value. Therefore, the development of dividend distribution policy has always been the focus of listing Corporation, the same is also a hot issue in the academic and practical circles of China and foreign countries.White home appliance industry is in the mature period of life cycle, the dividend policy in the whole stock market is higher, and has stronger continuity and stability. But Mei ling dividend payment level not only is far less than the industry representative of Gree Electric appliances, stingy with dividends in the king's image formation contrast, but also with the industry average level differs very far, the dividend payment level is low. And we in the annals of Mei ling company found company made in some year, net profit is more, no according to signaling theory to investors transfer company earnings information through good dividend policy, to attract investors to invest, choosing instead to do not give shareholders the payment of dividends or dividend payment rate is low and the signal transfer theory is diametrically opposed to the policy.Therefore, based on the research of relevant scholars at home and abroad, this paper makes a case study on the dividend policy of Mei Ling electric company. Through the comparison of the profitability, operating capacity, cash flow and other aspects of Gree Electric Appliances analysis, it is found to take Mei ling electrical appliance, low amount of dividend policy, on the one hand is due to the company's main business profit rate low, low inventory turnover, accounts receivable days long and operating activities net cash flow is low or even negative factors caused; on the other hand is due to the company to expand investment scale use of funds. And Mei ling statements show net profit rose sharply, but don't give shareholders dividends is the main reason for the company's investment income and government subsidies accounted for a high proportion of net profit, earnings persistence of poor and again and can not predict the future whether there is an inflow of funds, so Mei ling in business fixed dividend policy is more rigorous, even if on the report showed a sharp rise in net profit also don't tend to dividends.On the basis of the above analysis, this paper puts forward some suggestions on the dividend policy of Mei Ling electric appliances. In the external aspect, the first step is to improve relevant laws on dividend policy guidance, requires listed companies to disclose information comprehensive, open and accurate, requirements when earnings reach a certain proportion is a distribution of profits, effectively protect investors the right to return. Second, strengthen investor education, guide it to establish the correct concept of investment, in the stock market to create a good atmosphere of dividend distribution. Within the company, to enhance profitability and operation ability to internal Mei Ling has plenty of surplus funds for the possibility of dividend distribution. hoping to provide a reference for the Mei ling electrical appliance of dividend policy and future development.