Beta Corporation is a manufacturer of inflatable furniture. Which of the following scenarios best reflects a stable dividend policy for Beta?
Maintaining a constant dividend payout ratio of 40–50%.
Maintaining the dividend at US$1.00 a share for several years given no change in Beta’s long-term prospects.
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.
(Institute 188-189)
Institute, CFA. 2018 CFA Program Level II Volume 3 Corporate Finance. CFA Institute, 07/2017. VitalBook file.
所提供的引文是一个指南。请在使用之前查看每个引文以确保准确性。
请问究竟什么是stable dividend policy？我原理解是根据公式有一个目标股利支付率，然后每年逐渐向这个股利支付率靠近，这样达到后就变成了一个稳定的股利支付率，那么选项A是否正确？如果我理解错误，究竟什么才叫做stable dividend policy？
