Dividend yield investment strategies, the payout ratio and zero dividend stocks
Dividend yield investment strategies, the payout ratio and zero dividend stocks
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.
69-74
Gwilym, Owain Ap
9639163d-b537-42e2-ab28-7aaf56d61185
Seaton, James
b6f37ca8-95a5-4d2b-8f85-33061f2afc7b
Thomas, Stephen
3ebf2346-25f1-4f19-b854-7a7da0cee9ca
2005
Gwilym, Owain Ap
9639163d-b537-42e2-ab28-7aaf56d61185
Seaton, James
b6f37ca8-95a5-4d2b-8f85-33061f2afc7b
Thomas, Stephen
3ebf2346-25f1-4f19-b854-7a7da0cee9ca
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), .
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.
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Published date: 2005
Identifiers
Local EPrints ID: 37356
URI: http://eprints.soton.ac.uk/id/eprint/37356
ISSN: 1068-0896
PURE UUID: 8c5dfaf4-8fd2-4dd9-8e34-5a9ac971829a
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Date deposited: 23 May 2006
Last modified: 11 Dec 2021 15:36
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Contributors
Author:
Owain Ap Gwilym
Author:
James Seaton
Author:
Stephen Thomas
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