Dividend payments are the primary concern of short-term investors, while free cash flow is for long-term investors. In … checked whether the dividend payout of the small fifty and big fifty firms are indifferent or not regarding free cash flow …

The economics of dividend policy has focused on the single tight narrative that dividends keep managers honest … institutional ownership patterns. We find that firms adopt a higher dividend payout to discourage takeover bids. Also, FTSE 100 … independent directors, display a higher dividend payout. Frequency of trading and ownership by transient investors seeking current …

accurate forecasts relative to alternatives, including the traditional dividend yield. This remains true even after excluding …

Aggregate dividend growth is widely thought to be unpredictable by the dividend price ratio. I show that this lack of … regression of dividend growth on the dividend price ratio goes from being negative (-1.18%) to being positive (17.54%) and ….76%) and returns (1.86% to 4.40%). Out-of-sample R2 for dividend growth and returns are large and statistically significant. I …

tradeoff between market and reinvestment risk explains this pattern. Intuitively, while long-term dividend claims are highly … exposed to market risk, they are also good hedges for reinvestment risk because dividend prices rise as expected returns … long maturities, inducing relatively low risk premia on long-term dividend claims. The model is also consistent with the …