问题如下:
Company M has a capital expenditure of $250 million. The target capital structure is 30% debt and 70% equity. According to the residual dividend policy, what`s the dividend with net income of $180 million?
选项:
A.$5 million
B.$105 million
C.$175 million
解释:
A is correct.
考点:Payout Policies
解析:债务融资需要$250 * 30% = $75 million,权益融资需要$250 * 70% = $175 million。$180 million的净利润,其中内源融资占$175 million,剩余可分红$180 - $175 = $5 million。
债务融资和内部融资都存在的情况下,内部收益应该怎么扣除,是扣除大的,还是都先扣除内部