-the dividend and earnings yields-on the South African market, at both aggregated and sectoral level. Unlike most studies in South …

We revisit the predictive ability of dividend changes for firms’ future earnings and extend the literature by examining … the effect of management forecasting ability. Although prior studies have examined the relationship between dividend … changes and future earnings, the empirical evidence is mixed. The belief that dividend changes have implications for future …

dividend growth rates of the aggregate stock market. This approach aggregates information contained in the history of price-dividend … ratios and dividend growth rates to predict future returns and dividend growth rates. We find that returns and dividend … growth rates are predictable with R-squared values ranging from 8.2% to 8.9% for returns and 13.9% to 31.6% for dividend …