The Influence Of GuiZhou MaoTai's Dividend Policy On Company Share Price

In China's capital market under the continuous development of the environment,the dividend policy as a listed company's core financial policy,in recent years much research scholars and investors are concerned.Reasonable dividend policy can not only establish a good corporate image for listed companies,but also stimulate investors' enthusiasm for investment and stabilize the relationship between investors and agents,so that the listed companies get more development.Therefore,the relationship between dividend policy and the enterprise is like the relationship between wine and wine,good wine can make wine even more alcoholic wine thicker.Judging from the current situation of the distribution of dividend policy in our country,the phenomenon of indifference and sub-division is still serious.Most companies do not actually follow the wishes of investors.The formulation of dividend policy only starts with the interests of major shareholders and lacks the rights and interests of minority shareholders maintain.In this context,we need to identify the industry benchmark,to study the continuous and stable dividend policy on the stock price had a positive effect,while analyzing the different stages of development companies for what type of dividend policy,so we can have sufficient reason To persuade listed companies to adopt a positive dividend distribution policy can we really solve the problem.Based on the understanding of the status quo of domestic dividend policy,this article analyzes the financial characteristics of Kweichow Moutai Co.,Ltd.,a benchmark of liquor industry,as well as the characteristics of the company in its dividend policy and finds out some deficiencies.Then,using the theory of "one bird in hand"and signal transmission theory related to dividend policy,this article starts from the phenomenon of high cash dividend in Moutai for many years,Carried out analysis and research.Finally,the conclusion is drawn:the high cash dividend policy adopted by Guizhou Moutai can drive the rise of stock price to a certain extent,and also analyze the existing problems in the status quo of Moutai dividend policy,which leads to the individual's policy of regulating the dividend policy of Guizhou Moutai Suggestions,such as improving the company's shareholding structure,strengthen fund management and improve the legal system etc.