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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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.
|Subjects:||H Social Sciences > HG Finance|
|Divisions:||University Structure - Pre August 2011 > School of Management
|Date Deposited:||23 May 2006|
|Last Modified:||02 Mar 2012 13:06|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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