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西红柿面 · 2024年06月09日

A选项如果在后面加一句，“在公司未来增长情况很稳定的情况下”，算对吗？

  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选项如果在后面加一句，“在公司未来增长情况很稳定的情况下”，算对吗？

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已采纳答案

王琛_品职助教 · 2024年06月11日

嗨，努力学习的PZer你好：


1

我个人认为出题人不会这样出哈

因为分红策略咱们就学了两种

一种是 Stable dividend policy

另一种是 Constant dividend payout ratio policy

2

选项 A 对应 Constant dividend payout ratio policy

特点就是分红比率是固定的 fixed dividend payout ratio

缺点就是分红可能会随着盈利的波动而波动

请参考基础班讲义墨迹版 P50

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

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