Research On Dividend Distribution Policy Of Yunnan Baiyao Based On Financial Strategy Matrix

As an important part of corporate financial strategy,dividend distribution policy plays a key role in coordinating corporate financial relations.How to distribute corporate dividend is not only related to the long-term and stable operation of listed companies,but also related to the healthy development of the capital market.Therefore,dividend distribution policy has increasingly become a hot topic of concern to government regulators and investors.Compared with foreign countries,China’s capital market has started late but developed rapidly.The company’s formulation of dividend distribution policies that meet its own conditions can not only enhance its value in the stock market,but also improve investors’ confidence and attention to the company and stabilize the company’s stock price.However,the current dividend distribution policies of many companies lack scientific,continuity and stability,and some bad dividend distribution policies are eroding the capital market of our country a little bit,seriously restricting the healthy growth of the capital market.The financial strategy matrix,as a tool to comprehensively evaluate the implementation of the enterprise’s financial strategy,has a very important reference value for helping enterprises to formulate dividend distribution policies in line with their own development.This paper combs the research status at home and abroad,selects Yunnan Baiyao Company as the research object,and analyzes its dividend distribution policy based on the perspective of financial strategy matrix.First of all,it elaborates the evolution and characteristics of the equity structure and dividend policy of Yunnan Baiyao Company,and it analyzes the basic situation of Yunnan Baiyao Company.Secondly,it applies the financial strategy matrix model.It takes the capital surplus and shortage as the X axis and the value creation as the Y axis.Based on the financial indicators of Yunnan Baiyao,this paper makes a fit analysis of the dividend distribution policy actually implemented by the company and the dividend distribution policy under the state of the financial strategy matrix.In order to compare the dividend payment rate and sustainable growth rate of the two.At the same time,it analyzes the market reaction caused by the dividend policy,and helps to prove the feasibility of the financial strategy matrix for analyzing the dividend distribution policy.It finds that Yunnan Baiyao has problems such as the dividend distribution policy is not suitable for the long-term financial strategy,the dividend distribution method is relatively single,and the ability to pay cash.This paper analyzes the main causes of the problem from three aspects: finance,policies and regulations,and ownership structure.Finally,in order to match the dividend distribution policy of Yunnan Baiyao with the economic growth,it proposes that Yunnan Baiyao should improve the dividend distribution policy by referring to the financial strategy matrix,adopting multiple distribution methods,maintaining the stability of dividend payment,and formulating long-term dividend plans.It also puts forward operational safeguard measures to better ensure that the dividend distribution policy of Yunnan Baiyao matches the economic growth and realize the sustainable development of enterprises.