The Analysis Of Cash Dividend Policy Of B Company

With the development of capital market,cash dividend distribution policy has attracted the attention of scholars both at domestic and abroad.The cash dividend not only increases the shareholder's income,but also improves the company's image to the long-term development of the company while maintaining the steady and steady dividend policy.In the mature capital market in the west,most listed companies have paid dividends in cash dividends for many years,and the payment level is relatively stable.In terms of the actual situation of our country,the securities market is not perfect,and the dividend payment method of enterprises is diversified,which tends to give out stock dividends and pay little cash dividends.However,the cash dividend distribution policy of liquor industry in the whole industry,cash dividend payment level is higher,with strong continuity and stability.Company B is representative in the liquor industry is a dynamic "cash cow".It is worth exploring why B company has kept a high dividend from the IPO,so that it can match the long-term development of the company.Based on the research of scholars at domestic and abroad,this thesis takes the cash dividend policy of B Company as the research object,and uses the method of case study to analyze the factors.After analyzing the current situation of cash dividend policy of B company and the comparison with the industry,it found that its cash dividend policy is not tight makes the research and development expenditure growth slow,the financial situation is not optimistic,the fund utilization is insufficient and the market reaction does not meet the expectation.The reason is caused by financial factors such as profitability,solvency,growth ability,operational capacity and other non-financial factors such as lack of investment opportunities,over-protection of policies and ownership structure.The conclusion that the enterprises themselves need to diversify their operations to improve the efficiency of the use of funds,other enterprises in the industry need to optimize the ownership structure,the relevant regulatory agencies to strengthen policy guidance and investors to establish a rational investment awareness of the proposal.