the following days. This dividend pay date effect has strengthened since the 1970s, and is consistent with the temporary … price pressure hypothesis. The pay date effect is concentrated among stocks with dividend reinvestment plans (DRIPs), and is … larger for stocks with a higher dividend yield, greater DRIP participation, and greater limits to arbitrage. Over time …

that institutional investors are net sellers in dividend reduction firms during the two quarters prior to the announcements …. They also trade more intensively in firms that do not prepare the market for dividend cuts or that have greater information …

This study paper examines the effect of dividend declaration on banking sector stock return in DSE. A sample of 10 … impacts of dividend declaration on the stock return. The Average Abnormal Return (AAR) increases on the declaration date and … impact is highest “One Day After” the date of dividend declaration in comparison to On the Day” and “One Day Before” the date …

We analyze a firm's choice between dividend payments and stock repurchases under heterogeneous beliefs and the … of its equity, choose between paying out its cash available through a dividend payment or a stock repurchase, as well as …. Finally, we develop a number of new results characterizing a firm's long-run stock returns following dividend payments and …

to announcements of dividend increases on common stock. We find that participants in the preferred stock market respond … have to determine the source of financing of the dividend increase, which can either increase or decrease the value of … these securities. In contrast, regardless of how it is financed, a dividend increase has an unambiguous positive effect on …

relatively easy to price—old, large, and dividend-paying firms, value firms, and firms with a higher proportion of tangible …