Dividend yield investment strategies, the payout ratio and zero dividend stocks


Gwilym, Owain Ap, Seaton, James and Thomas, Stephen (2005) Dividend yield investment strategies, the payout ratio and zero dividend stocks. Journal of Investing, 14, (4), 69-74.

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Description/Abstract

This study considers the application of both high- and zero-dividend strategies to the U.K. market. Following recent academic studies we conjecture that the payout ratio may provide a useful additional filter for portfolio construction and that zero-dividend stocks may also offer higher returns. These strategies do indeed outperform both the high-yield and index returns on an absolute basis but not when adjusted for risk and transaction costs.

Item Type: Article
ISSNs: 1068-0896 (print)
Related URLs:
Subjects: H Social Sciences > HG Finance
Divisions: University Structure - Pre August 2011 > School of Management
ePrint ID: 37356
Date Deposited: 23 May 2006
Last Modified: 27 Mar 2014 18:23
URI: http://eprints.soton.ac.uk/id/eprint/37356

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