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寒塘鹤影 · 2023年04月14日

A为什么不对呢？

  1. CFA II
  2. Corporate Issuers

NO.PZ2023040402000015

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 percent.

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

解释：

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

A为什么不对，麻烦解答下


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1 个答案

王琛_品职助教 · 2023年04月17日

嗨，努力学习的PZer你好：


1

因为 A 选项其实对应的是另一个分红策略：constant dividend payout ratio 

请参考基础班讲义墨迹版 P50

2

关于选项 A 和 B 的辨析，尤其是 stable dividend policy 的本质，也请参考：https://class.pzacademy.com/qa/79277

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

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2023-11-12 23:25 1 · 回答

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2023-10-18 10:43 1 · 回答