Search results for query: Jabłoński

1. Comparative analysis of dividend payouts by national and international dividend companies for the period 2013-2019
   

   Author: Bartłomiej Jabłoński

   See Issue Contents: fins.2020.1

   Abstract:

   The author of the article outlined the results of the research on the taxonomy and the specificity of the transfer of profits to shareholders of dividend companies which are components of the WIG, DAX, CAC40 and S&P 500 indexes for the period 2013-2019.The purpose of the article is a critical assessment of the systematic distribution of dividends by domestic and international companies, taking into account the rate of dividend growth, the cumulated rate of dividends and the average rate of return on investments in shares of these companies. The studies carried out included 120 companies listed on the Polish, German, French and American markets (30 companies in each country), which in the period 2013-2019 paid dividends and at the end of 2019 had the highest capitalization in a given index. Then the author analysed for each market only those issuers who paid the dividends without interruption during the period considered (continuously for 7 years)

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2. Dividend Policy of Capital Groups Listed on The Warsaw Stock Exchange – Research Results
   

   Author: Bartłomiej Jabłoński

   See Issue Contents: fins.2021.1

   Abstract:

   The aim of the article was to present research on the characteristics of the dividend policy of capital groups and other dividend companies listed on the Warsaw Stock Exchange that paid dividends in 2012-2019 and to undertake a critical evaluation. The research relates to the methods of describing the dividend policy implemented by companies listed on the Warsaw Stock Exchange, which publish consolidated financial statements (capital groups) and measures of the system of payout of dividends by these entities. Based on the conducted research, it should be stated that capital groups are of a higher average annual dividend growth rate than companies publishing only separate financial statements, whilst the latter boast a higher average cumulative rate of dividends. The conducted research shows that the parent companies do not show whether they receive dividends from their subsidiary companies. However, based on the Spearman’s Rho analysis and the Pearson linear correlation coefficient for the analysed companies, it was found that there was a statistically significant link for capital groups and other companies between the average annual rate of return and the cumulative rate of dividends, and only for the remaining companies, a positive link between the average annual dividend growth rate and the cumulative rate of dividends (yet, this has not been confirmed by the Pearson’s linear correlation coefficient). The added value and application value are recommendations regarding the attractiveness of investing in dividend companies – capital groups or companies without related entities.

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3. Characteristics and realization of the dividend policy of companies quoted on the Warsaw Stock Exchange for the period 2008-2017
   

   Author: Bartłomiej Jabłoński

   See Issue Contents: fins.2019.3

   Abstract:

   The article takes up the issue of the characteristics and the implementation of the dividend policy of companies quoted on the Warsaw Stock Exchange in Warsaw for the period 2008-2017. The purpose of the research is the characteristics of dividend policy company satisfaction mechanism, including an assessment of its actual implementation. To study the characteristics and implementation of the dividend policy by the company’s dividend, eventually it was necessary to classify the companies that during the period of 2009-2018 paid dividends for the period 2008-2017 without a break (at 31.07.2018). The test results indicate a high average annual growth rate of paid dividends. Unfortunately, more than half of the companies developed a dividend policy and those that have it as the basis for their decision on the amount of payment of dividends indicate net profit and investment needs.

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4. Dividend Policy and the Nautre (Positive / Negative) of Cash Flows of Selected Companies Listed on the Frankfurt Stock Exchange
   

   Author: Anna Dada

   See Issue Contents: fins.2021.2

   Abstract:

   The main purpose of the article was to investigate whether there are joint-stock companies listed on the Frankfurt Stock Exchange between 2000-2017 that paid regular dividends. The sample was divided into dividend companies (who pay out dividends without any interruption) and other companies. A subsidiary objective was to compare the dividend companies and other companies concerning the direction of the cash flows of companies (positive/negative). Based on the conducted research, it should be stated that dividend companies have on average higher DPS for the years 2000-2017 than other companies. Additionally, the variants of the financial situation of an enterprise about with to the type of activity and the nature of net cash flows were presented by assessing the financial situation of the enterprise to about whether it generates a positive (or negative) balance of cash flows from the following activities: operations, investments, finance. The conducted research shows that the percentage of dividend companies in variants 1–4 among models of eight cases based on selected information on cash flows is greater than the percentage of other companies. The application value is recommendations regarding the attractiveness of investing in dividend companies. These conclusions may also be useful for companies listed on other exchanges, e.g., the Warsaw Stock Exchange. The dividend payment policy should be supported by rational cash flow management. The study may be used as preliminary research indicating the direction of further, more advanced research in this field.

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