开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

Mercury. · 2024年02月29日

为什么不选a

  1. CFA II
  2. Corporate Issuers

NO.PZ2016012005000031

问题如下：

Beta Corporation is a manufacturer of inflatable furniture. Which of the following scenarios best reflects a stable dividend policy for Beta?

选项：

A.

Maintaining a constant dividend payout ratio of 40–50%.

B.

Maintaining the dividend at $1.00 a share for several years given no change in Beta’s long-term prospects.

C.

Increasing the dividend 5% a year over several years to reflect the two years in which Beta recognized mark-to-market gains on derivative positions.

解释：

B is correct.

Choice A is consistent with a constant dividend target payout ratio policy. Choice C is not correct because the earnings increases described are not sustainable long term.

A也符合这两种情况（当未来盈利增长为零时，股息保持恒定；当公司以可持续增长率增长时，公司的股利也保持和盈利相同速度增长）为什么不能选呢

添加评论
1 个答案

王琛_品职助教 · 2024年03月01日

嗨，努力学习的PZer你好：


1

选项 A 不属于 stable dividend policy，而是属于 constant dividend target payout ratio policy

因为 Earning 的波动很大，如果保持一个稳定的分红比例，分红也会随着 Earning 的波动而波动

2

假设分红比率是 45%

如果 NI 是 100，分红就是 45

如果 NI 是 1000，分红就是 450

3

所以选项 A 并不符合同学所例举的 stable dividend policy 的两种情况

关于 constant dividend target payout ratio policy，也请参考基础班讲义墨迹版 P50

----------------------------------------------
努力的时光都是限量版，加油！

  • 1

    回答

  • 0

    关注

  • 340

    浏览
相关问题

NO.PZ2016012005000031 问题如下 Beta Corporation is a manufacturer of inflatable furniture. Whiof the following scenarios best reflects a stable vinpolifor Bet A.Maintaining a constant vinpayout ratio of 40–50%. B.Maintaining the vin$1.00 a share for severyears given no change in Beta’s long-term prospects. C.Increasing the vin5% a yeover severyears to reflethe two years in whiBeta recognizemark-to-market gains on rivative positions. B is correct.ChoiA is consistent with a constant vintarget payout ratio policy. ChoiC is not correbecause the earnings increases scribeare not sustainable long term. B正确。如果每年都维持到每股发放1美元，但是每年的每股收益会发生变化，为什么汇算做stable vinpolicy？不应该是按照一定的比率嘛?C为什么不正确呀？没看懂原文。谢谢老师

2024-07-29 22:15 1 · 回答

NO.PZ2016012005000031 问题如下 Beta Corporation is a manufacturer of inflatable furniture. Whiof the following scenarios best reflects a stable vinpolifor Bet A.Maintaining a constant vinpayout ratio of 40–50%. B.Maintaining the vin$1.00 a share for severyears given no change in Beta’s long-term prospects. C.Increasing the vin5% a yeover severyears to reflethe two years in whiBeta recognizemark-to-market gains on rivative positions. B is correct.ChoiA is consistent with a constant vintarget payout ratio policy. ChoiC is not correbecause the earnings increases scribeare not sustainable long term. A如果在后面加一句，“在公司未来增长情况很稳定的情况下”，算对吗？

2024-06-09 09:59 1 · 回答

Maintaining the vin$1.00 a share for severyears given no change in Beta’s long-term prospects. Increasing the vin5 percent a yeover severyears to reflethe two years in whiBeta recognizemark-to-market gains on rivative positions. B is correct. ChoiA is consistent with a constant vintarget payout ratio policy. ChoiC is not correbecause the earnings increases scribeare not sustainable long term. 这个题不太明白，老师上课时候特意说了，这里stable 不是一个金额一直不变，那么B怎么会是对的？C不是稳定增长吗

2022-07-24 19:34 1 · 回答

NO.PZ2016012005000031 a说分红率稳定在一个区间，不是应该说明红利持续稳定嘛？

2021-06-01 20:53 1 · 回答