dividends, and therefore, if circumstances permit guarantee a great increase in dividends, not only provides part of the level at which the ratio tends goal.
For this reason, the dividends will depend in part on the company’s current earnings and dividend of the previous year, which in turn depends on the profits and the dividend the previous year (Roe 1994, p. 59). That is:
In short, most companies tend to adopt fees “framework” relatively stable profit sharing, but on the other hand, it should be noted that there is a wide dispersion of those rates which shows that companies do not hesitate to follow different dividend strategies. In short, most companies tend to adopt fees “framework” relatively stable profit sharing, but on the other hand, it should be noted that there is a wide dispersion of those rates which shows that companies do not hesitate to follow different dividend strategies.
股息，因此，如果条件允许的情况下保证股息大幅增加，不仅提供的水平，比趋向目标的一部分。
为此，股息将部分取决于该公司目前的收入和上年股利，这反过来又取决于利润和上年股利（净资产收益率1994，p. 59）。这是：
总之，大多数公司倾向于采取收费的“框架”的相对稳定的利润分享，但另一方面，应当指出的是，那些率表明公司毫不犹豫地按照不同的股利策略广泛分散。总之，大多数公司倾向于采取收费的“框架”的相对稳定的利润分享，但另一方面，应当指出的是，那些率表明公司毫不犹豫地按照不同的股利策略广泛分散。
