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Title: A COMPARATIVE ANALYSIS OF DIVIDEND PAYOUT TREND OF INDIAN PHARMACEUTICAL & CEMENT INDUSTRIES

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Title:
A COMPARATIVE ANALYSIS OF DIVIDEND PAYOUT TREND OF INDIAN PHARMACEUTICAL & CEMENT INDUSTRIES
Author Name:
Dr.K.Kumuthadevi, S.Umamaheswari
Abstract:
Dividend policy is one of the most complex aspects in finance. The reality is that dividend policy is more commonly an instrument of wealth distribution than it is an instrument of wealth creation. Profitability has always been considered as a primary indicator of dividend payout by a company. There are factors other than profitability namely cash flows, debt equity ratio, retained earnings, sales growth, share prices of a company, capital expenditure and beta etc. that also affect dividend decisions of an organization. The major objective of this study is to examine and compare the dividend payout trends (based on the DPS and DPR) of the two leading industries i.e. Pharmaceutical and cement Industry in India for a sample of 6 companies during the year 2009-10 to 2013-14. The study concludes that companies belonging to the same industry have adopted different dividend policies among themselves.
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