implied by analysts' dividend forecasts under the explicit notion of taxes and non-flat term structures of interest rates and …

In contrast to the disappearing dividends view, we predict that variability in dividend payments increases investor … demand for dividend information and analysts respond to this demand by producing informative dividend forecasts. We examine … dividend payers from 16 countries spanning 2000–2013 and find that only 25% of firms exhibit sticky dividends, while the …