UC知道两道金融英文题
来源：百度知道 编辑：UC知道 时间：2024/05/27 02:47:33
1.(Dividend adjustment model) Regional Software has made a bundle selling spreadsheet
software and has begun paying cash dividends. The firm’s chief financial officer would like
the firm to distribute 25% of its annual earnings (POR = 0.25) and adjust the dividend
rate to changes in earnings per share at the rate ADJ = 0.75. Regional paid $1.00 per share
in dividends last year. It will earn at least $8.00 per share this year and each year in the foreseeable
future. Use the dividend adjustment model, Equation (18.1), to calculate projected
dividends per share for this year and the next four.
2.(Dividend policy) A firm has 20 million common shares outstanding. It currently pays out
$1.50 per share per year in cash dividends on its common stock. Historically, its payout
ratio has ranged from 30% to 35%. Over the next five years it expects the earnings and discretionary
cash flow shown below in millions.
a. Over the five-year per
software and has begun paying cash dividends. The firm’s chief financial officer would like
the firm to distribute 25% of its annual earnings (POR = 0.25) and adjust the dividend
rate to changes in earnings per share at the rate ADJ = 0.75. Regional paid $1.00 per share
in dividends last year. It will earn at least $8.00 per share this year and each year in the foreseeable
future. Use the dividend adjustment model, Equation (18.1), to calculate projected
dividends per share for this year and the next four.
2.(Dividend policy) A firm has 20 million common shares outstanding. It currently pays out
$1.50 per share per year in cash dividends on its common stock. Historically, its payout
ratio has ranged from 30% to 35%. Over the next five years it expects the earnings and discretionary
cash flow shown below in millions.
a. Over the five-year per
1.（红利调整模型）Regional软件公司制作了大量销售软件数据表软件，并开始支付现金红利。公司财务主管计划将公司年收入的25%(POR = 0.25) 进行分配，并调整收入内股息率变动比例ADJ = 0.75. Regional公司去年每股红利为1美元。今年每股收益至少在8美元，且以后每年的增长都可预测。使用红利调整模型，等式(18.1)来计算今年和以后四年的每股红利。
2.（红利政策）一个公司拥有2000万股发行在外的普通股。公司每年向普通股每股支付1.5美金红利。在历史上，公司支付比例在30%至35%间。接下来的五年，公司预期收入和自决性现金流量如下所示，单位：百万美元
a。在五年时间里，在不引发证券事宜的情况下，公司能达到的最大总支出比例是多少？
b。提出一个合理的红利分配政策，用于支付自决性现金流
1到5年
1.2.3.4.5 其后
收入每年增加 100 125 150 120 140 150+
自决性现金流每年增加 50 70 60 20 15 50+
仅供参考