Case Study On High Cash Dividend Of Gree Electric

Dividend policy has always been an important part of financial management of listed companies,which belongs to one of the three important financial decisions.Therefore,the dividend distribution of listed companies has always been the focus of scholars at home and abroad.Since 2008,China Securities Regulatory Commission issued the decision on Revising the provisions on cash dividends of listed companies,the dividend distribution method of cash dividends has been gradually adopted by listed companies.With the continuous development of market economy,the amount of cash dividends is increasing year by year,and the capital market is immersed in the phenomenon of high cash dividends.However,in China’s listed companies,there are few companies that have maintained a high dividend policy.As one of the "three giants" in the home appliance industry,Gree Electric has carried out 23 cash dividends,2 stock dividends and 6 share conversion since its listing in 1996.The amount of cash dividends also shows an increasing trend,which has aroused widespread concern in the community.This paper uses the case analysis method,selects Gree Electric as the case analysis object,and draws lessons from the existing scholars’ relevant research on dividend distribution.Combined with the actual situation of the case,this paper analyzes the influencing factors of Gree Electric’s high cash dividends for many years from the perspectives of ownership structure,shareholders,law and so on.In addition to the case analysis method,this paper also uses the comparative analysis method to discuss,selects two representative enterprises in the same industry Midea Group and Haier Zhijia for further analysis,and finally makes a summary elaboration.In addition,this paper also uses the literature research method to make the content of the article more authentic and reliable.In the last part of this paper,the advantages of Gree’s dividend distribution and the experience that can be used for reference are mainly discussed,so as to get the conclusion and enlightenment.The biggest highlight of the article is that it breaks through the previous research method focusing on the problem in the dividend distribution of Gree Electric appliances,but summarizes its advantages,so that other enterprises in the same industry or with insufficient dividend distribution can learn from it..