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Pradeepta Sethi
TAPMI
Our voyage
Dividend
decision
Working
capital
Long
term
financing
Dividend decision
What is dividend?
Dividend
A payment made by
a company to its
shareholders,
usually as a
distribution of
profits.
Dividend payments
Cash dividend
Stock repurchase
Stock dividend
Distribution of
stockholders
additional
shares
to
firms
Stock splits
Dividend process
Ex-Dividend date
Record date
Payment date
ONGC Dividend
November
28, 2014
December
16, 2014
ONGC
declares
dividend
of Rs 5.00 per
share
Shares start to
trade exdividend
Declaration
date
Ex-dividend
date
December 17,
2014
Dividend will be
paid
to shareholders
registered
on this date
Record
date
Rs. 343.00
Rs. 335.00
Rs. 343.00
2/3 weeks
after record
date
Dividend
checks
mailed
to shareholders
Payment
date
Dividend Yield
30
25
20
15
10
5
0
2010
2011
2012
2013
Cipla Ltd.
Infosys Ltd.
2014
150
100
50
0
2010
2011
2012
2013
Cipla Ltd.
Infosys Ltd.
2014
Dividend changes
2011
2012
2013
Cipla Ltd.
Infosys Ltd.
2014
Investors preferences
Clientele effect
Clientele effect
Firms
will
have
a
difficult
changing an established dividend policy.
time
for
the