The University of Southampton
University of Southampton Institutional Repository

Dividends aren't disappearing: evidence from the UK

ap Gwilym, Owain, Seaton, James and Thomas, Stephen (2004) Dividends aren't disappearing: evidence from the UK , Southampton, UK University of Southampton 48pp. (Discussion Papers in Accounting & Finance, AF04-15).

Record type: Monograph (Discussion Paper)

Abstract

Despite a documented decline in the number of dividend payers in the UK it is found that aggregate real dividends paid by industrials actually increased between 1979 and 2000. This was attributed to the firms lost from the sample being generally small distributors of dividends whilst the growth in payments by large firms more than compensated for the effect of the former. As a result a concentration of dividends has occurred consistent with that described in the US by DeAngelo et al (2002). During the same period it is also found that a concentration of earnings also occurred amongst the largest dividend payers.

There was found to be an increase in the number of non-paying firms during recessionary periods consistent with previous work by Benito and Young (2001). An analysis of the listing status in 2000 of industrial dividend payers in 1979 shows that whilst only around one-fifth of these firms continued to pay dividends the vast majority of the remainder had been acquired and thus there is a good chance these dividends remain, at least in part, in larger combined entities.

PDF AF04-15.pdf - Other
Download (280kB)

More information

Published date: 2004
Additional Information: ISSN 1356-3548

Identifiers

Local EPrints ID: 36136
URI: http://eprints.soton.ac.uk/id/eprint/36136
PURE UUID: 04c1d143-e36b-4c30-b815-3764ae54445a

Catalogue record

Date deposited: 24 May 2006
Last modified: 17 Jul 2017 15:45

Export record

Contributors

Author: Owain ap Gwilym
Author: James Seaton
Author: Stephen Thomas

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×