From The Perspective Of Public Welfare Donation,the Case Study Of High Dividend Policy Of Vanke Group Is Analyzed

For listed companies,dividend payment is often a symbol of the profitability and good financial condition of the company.A reasonable dividend policy must ensure the normal development of the company and at the same time protect the rights and interests of large and small shareholders.With the concept of social responsibility gradually introduced into China,more and more enterprises began to pay attention to public welfare donations.Public welfare donation,as the main way for enterprises to undertake social responsibilities,is increasingly favored by listed companies.They improve their reputation and product popularity through public welfare donation,while enhancing social welfare and promoting social equity development.Then,if the listed company maintains a relatively stable public welfare donation,will this kind of behavior have some influence on the company to formulate dividend policies and pay dividends? The empirical study shows that public welfare donation has positive influence on cash dividend distribution of listed companies.This paper takes vanke group as the case study object,analyzes its dividend policy from 2009 to2017,and finds that the company’s annual dividend per share since 2013 is more than0.3 yuan,which belongs to the current gaopai.At the same time,the two-dimension analysis method compared with the companies in the same industry and the industry level is used.The analysis results show that good operating conditions,high profits,sufficient cash flow,state-owned property rights and active public welfare donations are the influencing factors for vanke to maintain a stable policy of high dividend payout.Based on the above research conclusions,this paper puts forward the following Suggestions for the future dividend policy of vanke group :(1)formulate a scientific and reasonable dividend policy and "live within your means";(2)establish a long-term mechanism for public welfare donations and strengthen supervision;(3)establish green finance that keeps pace with The Times for coordinated development.This paper not only provides a new way for the management to formulate dividend policy from the perspective of social responsibility and public welfare donation,but also provides a new perspective for the government regulatoryauthorities to regulate listed companies to formulate dividend policy.