THE DİVİDEND BEHAVIOR OF COMPANIES IN THE U.K MANUFACTURING INDUSTRY

Date

1983

Author

ALAM, Kazi Firoz

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This paper suggests that tax plays a minör role in comparison with other factors Ci e. previous year's dividend, profits and cash flow) in influencing the dividend behaviour of companies in the United Kingdom manufacturing industry. There is also a clear indication both from the survey and the regres- sion analysis that companies follow a stable dividend policy. Further iııference to be drawn from this research is that when the Government attempts to discourage distribution of dividends by imposing ad- ditional taxes on the distribution, the companies try to compensate heavier taxation by increasing divi- dends in order to maintain a stable dividend policy.

URI

https://hdl.handle.net/11511/110934

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Department of Economics, Article