Dywidenda a wynik finansowy w ostatnim roku obrotowym
Dividend and the earnings in the last fiscal year

Summary/Abstract: Dividends value in a given year depends not only on the earnings in a last fiscal year, but also on the company’s earnings and the disposal of net profits in previous years. Working on the basis of data concerning payout of dividends during the period of Warsaw Stock Exchange functioning, the paper shows that more and more companies paying dividends use not only net profits in the last fiscal year but also reserve capitals or (and) undistributed earnings of previous periods as well as creates reserve dividends capitals, which help to realize long-term dividends strategies.

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