Current Dividend policy of German Companies
Journal Title: Бізнес Інформ - Year 2015, Vol 11, Issue 0
Abstract
The article is concerned with determining the characteristics of current dividend policy of German companies. It has been disclosed that the majority of shareholders in Germany does not consider dividends as the main reason to hold shares and therefore does not refuse from the shares when dividends are reducing. Accordingly, the shareholders do not sell their shares massively, hence their price remains stable. Thus, we can assume that distribution of dividends by German companies is not the major factor influencing the value of shares. In addition, the dividend policy of companies in Germany (on example of the companies that were considered) is characterized by dependence on the financial flows of companies as well as taxation of dividends. Companies with significant financial flows are distributing dividends consistently. General rate of profit taxation in Germany lies within 23-33%, while dividends are exempt from corporate income tax. Therefore, companies assign part of their profits for distribution of dividends.
Authors and Affiliations
Elena Shuba
Keywords
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- EP ID EP133204
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