Polityka dywidendowa spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie na przykładzie sektora handel
Dividend policy of companies listed on the Warsaw Stock Exchange on the example of the trading sector

Summary/Abstract: Companies which systematically share generated profit with shareholders perform a dividend payment according to a specific payout model. The aim of this article is to present possible model policies of dividend payments and, in particular, an attempt to evaluate dividend payout models applied in the trading sector companies listed on the Warsaw Stock Exchange. Analyses of dividend policies covered the years 2004-2014. In the first place, using the logit regression model, attempts were made to verify if conclusions of the hypothesis of the policy of stable dividend and hypothesis of the policy of residual dividend were true for the examined companies. Next, by applying dividend per share and dividend payout ratios, the development of shaping of these relations in consecutive years was examined, which made it possible to identify models of dividend policy applied by individual companies.

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