dividend不是已近和债权人瓜分后付给股东的吗？为什么债权人会介意

问题如下：

Debt covenants are least likely to place restrictions on the issuer’s ability to:

选项：

pay dividends.

issue additional debt.

issue additional equity.

解释：

C is correct.

Covenants protect debtholders from excessive risk taking, typically by limiting the issuer’s ability to use cash or by limiting the overall levels of debt relative to income and equity. Issuing additional equity would increase the company’s ability to meet its obligations, so debtholders would not restrict that ability.

解析：题目问，债券条款不可能对下列哪项活动进行限制。

C：增加股权融资，可以增加公司的资本规模，而且会降低公司的杠杆比率，增加其偿债能力，对债权人来说是好事，因此不会加以限制，选项C入选。

AB：支付股利会增加公司的现金流负担、发行额外债务会增加公司的债务规模，都会降低公司偿债能力，对现有债权人不利，因此会倾向于在债券条款中加以限制，选项AB不入选。