Dividendveranderings in Suid-Afrika - Tekenend Van Die Verlede of Toekoms?

A E Nell, W D Hamman and E vd M Smit

Studies in Economics and Econometrics, 2001, vol. 25, issue 2, 61-86

Abstract: This study attempts to answer the question whether changes in dividends contain information about future and/or present changes in earnings as many dividend theories imply. Results show no significant support for the dividend theory. Also, the size of the dividend increases does not predict future earnings. A strong and consistent observation was that companies that had cut dividends show a growth in earnings in the following years. The results also indicate that companies that increase dividends are less likely to experience a drop in future earnings than those firms with similar earnings growth that do not change their dividends.

Date: 2001
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DOI: 10.1080/10800379.2001.12106313

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