Main principles of the dividend policy development of priority companies in tangible and intangible activities

The article discusses the basic principles and features of the formation of dividend policy for companies representing “dividend aristocrats” of the material and non-material fields of activity from various industries. The ratio of the nominal and real share prices of the companies selected for analysis is calculated and analyzed. The net profit of the studied companies is analyzed and its volume is calculated, aimed at paying dividends for the reporting periods. The influence of financial indicators of the companies selected for analysis on their dividend payments is considered by calculating the correlation between these indicators. The analysis of the growth rates of the companies under consideration is carried out and the fulfillment of their optimal ratio is checked. Based on the results of this study, it was noted that it is the dividend policy of each particular company that affects the method of paying dividends to its shareholders. From a methodological point of view, the dividend policies of priority companies from the tangible and intangible fields of activity that ensure the development of “dividend aristocrats” were analyzed. In the course of the analysis of the dividend policies of companies from various sectors of the tangible and intangible fields of activity, it was noted that companies from the tangible field of activity are more inclined to dividend payments with their link to net profit or to free cash flow. And in the non-material sphere, in addition to the fact that some companies also allocate a certain amount of their net profit to dividends, some of the companies under consideration have established fixed dividend amounts in their dividend policy. As the main conclusion based on the results of the study, it was found that the principles for developing a dividend policy depend to a greater extent on the performance of a particular company, as well as on the industry to which it belongs.