Research Discussion Paper – RDP 9211 Dividends and Taxation: A Preliminary Investigation

Contents

• Introduction
• The Determinants of Dividend Policy
• Influences on the Payout Ratio in the Australian Context
• Trends in the Dividend Payout Ratio
• The Determinants of Dividend Policy
• Conclusions
• Appendix 1: Estimation with Panel-Data Models
• Appendix 2: Data Sources
• References

We are grateful to Philip Lowe and John Hawkins for helpful discussion and comments. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Reserve Bank of Australia.