Miller and Scholes show that under certain conditions the Federal Income tax taxes dividend income at a rate no higher than the rate on capital gains. Tabulations of actual 1977 tax returns show that
Dividend policy is still a largely discussed issue in corporate finance literature. One of the main indicators used in analysing the dividend policy is the dividend payout ratio. Using a database cons
This spreadsheet provides historical data for the cash aggregates - cashreceipts, cash payments and net cash flows. This information has beenextracted from the Cash Flow Statement series.