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Finanse, Rynki Finansowe, Ubezpieczenia

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia

4/2016
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Wypłaty dywidend spółek notowanych na GPW w W arszawie w latach 1993–2014


(The Dividend Payments of Companies Listed on the Warsaw Stock Exchange in the Period 1993–2014)
DOI: 10.18276/frfu.2016.4.82/2-04
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ISSN:2450-7741
eISSN:2300-4460
Authors: Leszek Czapiewski

Jarosław Kubiak
Keywords: dividend policy dividend yield Polish capital market
Issue / book publication date:2016
Page range:11 (59-69)
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Abstract

Purpose – The objective of this paper is to characterise the dividend policy of listed companies in Poland and its comparison with the dividend policy of listed companies on the other European markets. Design/methodology/approach – The study covers all companies whose shares were listed on the Warsaw Stock Exchange between 1993 and 2014. Dividend policy was characterized by the dividend yield and by gathering information on the frequency of dividend payments. Findings – The study concludes that admittedly an average dividend yield of companies listed on the WSE was higher than the average in Europe, but Polish companies were significantly less likely to pay dividends, and dividend payments were rarely continued. Originality/value – The research study includes data on all dividend payments of companies listed on the Warsaw Stock Exchange in the period 1993–2014. The paper should inspire further study on dividend policy of Polish firms.

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