n Investment Analysts Journal - Price adjustments on the JSE for announcements of share (stock) dividends
|Article Title||Price adjustments on the JSE for announcements of share (stock) dividends|
|© Publisher:||Taylor & Francis|
|Journal||Investment Analysts Journal|
|Publication Date||Jan 1997|
ISI Social Science
Extracted from text ... Number 46 - Part 3 W. Bethlehem, BCom (Witwatersrand) Price adjustments on the JSE for announcements of share (stock) dividends Introduction Unlike most cash dividend and capital structure changes, share dividends do not directly affect the future cash flows of the firm. Traditionally, share dividend declarations have been viewed by many academics and financial managers as costly transactions which merely increase the number of claims on the assets and earnings of the firm and therefore are worthless to shareholders. However, in markets where managers have information about current and future earnings which is unavailable to investors, share dividends may provide ..
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