| Cash Dividend policy is a strategy which a Listed Company rationally distributes profit after tax between stockholders obtained dividend and company retained earnings. Current surplus except Cash Dividend is an important source of enterprise endogenesis financing. Cash Dividend policy chosen right or not is key to company financing channels' liquidity, the level of financing costs, the rationality of capital structure and rights and interests capital costs' measurement. So, Listed Company's cash dividend policy is a core problem of modern finance. However, it is very difficult to solve the problem of paying Cash Dividend rationally, etc. Especially, china's securities market is not quite mature, Cash Dividend distribution is not very standardized, and there are still many problems and disadvantages. Thus, research on the Cash Dividend policy has a great practical significance.In this paper, first, in a detailed analysis of Listed Companies in China dividend distribution actuality, it put forward an Empirical Study by using financial management, financial accounting, econometrics, and other related disciplines basic theoretical knowledge, also some software Excel2003 and SPSS14.0. We can find, Net Assets Market Profit, each undistributed profit, and Loan of Asset Ratio with the Cash Dividend payment rate of change in the opposite direction. And that, Cash Flow Per Share of Operating Activities with the Cash Dividend payment rate of change in the same direction .Secondly, from the country, Listed Companies and investors three aspects fully explore China's listed company's Cash Dividend distribution policy causes, and make relevant suggestions.This study can provide some useful recommendations to Chinese Listed Companies to constitute dividend policy, provide the basis for government supervisory department to constitute criterion policy of dividend distribution of Listed Companies, and also reference for investor decision-making. |
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