自由现金流如何与股利支付相关？
股利支付政策是否合理？
不同的股利支付方式会产生不同的市场效应。
Different dividend distribution modes would cause different market effect.
中国移动上周说，今年它仍不打算提高股利支付比率。
Nor does it intend to raise the ratio this r, either, the company said last week.
当股票在股利支付日之间购入时，公司不单独计算股利。
When stocks are purchased between dividend dates, there is no separate charge of the dividend.
股利支付率表达的是某一特定时期股利与收益之间的关系。
The rate of dividend payout expresses the relationship of dividends and earnings during a certain period.
此外，英国石油还将从EMSB获得总计4800万美元的股利支付金。
Additionally, BP will also receive an EMSB pre-closing dividend payment amounting to $48m, subject to EMSB Board approval.
本文从媒体关注视角研究了中国上市公司的现金股利支付行为。
From the perspective of media attention, this paper studies the cash dividend payment behavior of Chinese listed companies.
确定股利支付形式是股份有限公司在制定股利政策时的一项重要工作。
To determine mode for divident payment is an important task for joint-stock companies limited in making divident policy.
自2006年以来，中国移动的股利支付比率只上升了一个百分点，至收益的43%。
Since 2006, China Mobile's dividend payout ratio has risen by just one percentage point, to 43% of earnings.
因此，当前关键已不在于提高股利支付水平，而是如何提高公司的盈利水平。
Therefore, it is much more crucial to boost the profitability than to enhance the dividend payout level of companies.
我国上市公司的股利政策存在严重不分配现象，股利支付率偏低，缺乏连续性等问题。
There is phenomenon that the listed companies do not allocate the dividend on shares or the payout ratio is low in China.
本文从股利政策稳定性的角度出发，对我国上市公司股利支付数量和支付形式进行研究。
Based on stability in dividend policy, this paper studies on the quantity and form of dividend.
在水利和能源部门同样也有上市的公用事业提供资金，他们所寻求的那种安全的股利支付者。
There are also listed utilities in the water and energy sectors that offer funds the kind of secure dividend-payers they seek.
结论发现：中国进行派现的上市公司比例高于美国，而股利支付率也高于国际市场的平均水平。
The conclusion shows that either the proportion of payer of Chinese listed companies is higher than that of U. S., or the payout ratio is also higher than the average level of global market.
本文首先从股利政策理论入手，介绍了股利政策包含的内容、股利支付形式与比较等基本概念；
This article first obtained from the dividend policy theory, to introduce the dividend policy contained content, dividend payment form and comparison and so on basic concept;
—累积优先股是这样一种优先股，所有以前未支付的优先股股利必须在普通股股利支付之前支付。
The cumulative preferred stocks are the preferred stocks that all previously unpaid preferred stock dividends must be paid before any dividends may be paid on the common stock.
本文从中国上市公司发放现金股利的实际情况入手，对股利支付与盈余质量的相关关系进行研究。
This paper started with actual situation of cash dividends of Chinese listed companies, and then researched the relations between dividends distribution and the earnings' quality of these companies.
对成长型股票建立了两阶段ebo价值评估模型，利用动态规划法求解最优股利支付路径及股票价值。
In this paper, we built a two period EBO valuation model, by which a dynamic programming was used for solving the optimized dividend payout path and stock value.
第五部分股利支付形式本部分主要对常见的五种股利支付形式，从概念、优点、缺陷等方面进行了分析、研究。
This part primarily analyses the concepts, advantages and disadvantages of five common providing forms of dividend on shares.
虽然各银行已经削减股利支付，但是他们仍然将资产负债表视作一个“堡垒”，同时最安全的欧洲各银行也处于类似的水平。
Although the bank has just cut its dividend it still views its balance sheet as a "fortress", and the safest European Banks have similar ratios.
传统股利分配代理理论是基于“两权分离”公司治理结构，认为股利支付可以降低管理者与股东之间的代理问题。
Based on "the two powers separate" governance structure, the traditional dividend agency theory thinks that dividend can debase agency cost between manager and shareholder.
股利支付水平方面，在评析西方财务理论中最佳股利支付模式的基础上，本文提出了高新技术企业适度股利分配政策。
As to the payout ratio, bases on analysis of the optimized dividend payment pattern from western theories, a moderate dividend payment policy is presented in this study.
没有证据显示增长机会、现金流、现金流变异性、银行债务、债务期限结构及股利支付是影响现金持有水平的重要因素。
However, no evidences show that growth opportunity, cash flow, cash flow variability, bank debt, maturity structure of debt, and dividend payment are important determinants of corporate cash holdings.
上市公司通过选择最优股利支付，向市场传递有关公司现在状态和未来前景的信息，来达到内部管理层和外部投资者的信息均衡。
The public company conveys information about its condition and prospect to the market by selecting the best dividend payment in order to balance the information of managers and investors.
利用STEPW ISE回归分析，对2001—2003年我国1 885家上市公司现金股利支付水平的影响因素进行了动态检验。
The influencing factors of the cash dividends level of(1 885) China Listed Companies from 2001 to 2003 were tested dynamically by use of STEPWISE regression analysis.
在高新技术企业的财务安排中，股利分配利益主体、股利支付比率和股利分配形式作为股利政策制定的三大主要内容，与一般的传统企业有所不同。
As the three main elements of dividend policy, the content of those issues are surely different from general enterprises in the context of hi-tech enterprises.
在高新技术企业的财务安排中，股利分配利益主体、股利支付比率和股利分配形式作为股利政策制定的三大主要内容，与一般的传统企业有所不同。
As the three main elements of dividend policy, the content of those issues are surely different from general enterprises in the context of hi-tech enterprises.
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