We provide the first international evidence on the impact of economic policy uncertainty (EPU) on dividend policy …. Using data from 19 countries, we find that a high level of EPU is positively associated with dividend payout. This evidence … is robust to using alternative dividend payout measures, to controlling for other sources of uncertainty, and to …

I examine whether and to what extent tax uncertainty affects a firm's dividend payouts. Based on the argument that tax … uncertainty exhibit a lower probability of dividend payouts. The effect of tax uncertainty is stronger in the presence of … negative effect of tax uncertainty on dividend levels, which is moderated by the costs of dividend reductions. These results …