Investment Opportunities And Share Repurchases

Richardson Electronics Reports Second Quarter Fiscal 2013 Results And Declares Cash Dividend
Richardson Electronics, Ltd. today reported sales and earnings for its second quarter ended December 1, 2012. The Company also announced that its Board of Directors ... Read News

Xyratex Ltd Announces Results For The Fourth Quarter And Fiscal Year 2012
HAVANT, United Kingdom, Jan. 10, 2013 /PRNewswire/ -- Xyratex Ltd (Nasdaq: XRTX), a leading provider of data storage technology, today announced results for the fourth quarter and fiscal year ended November ... Read News

The Price Impact Of Open Market share repurchases
Managers use this flexibility to alter payout in response to the availability of good investment opportunities and accelerate or initiate share repurchases when their stock is perceived as share repurchases when they removed restrictions on share repurchases in March 2000.2 A ... Document Viewer

Investment Opportunities And Share Repurchases
Investment Opportunities and Share Repurchases Walter I. Boudry⁄ Leonard N. Stern School of Business New York University Jarl G. Kallberg Thunderbird School of Global Management ... Return Doc

Talk:Share repurchase - Wikipedia, The Free Encyclopedia
They have SO much cash and earnings and all their investment opportunities and ideas have a negative NPV or are just not good enough to generate significant revenues. so they wont just And about the Dutch Auction Share Repurchases, the article said: "Shareholders are invited to ... Read Article

The Information Content Of Share Repurchase Programs
Thus, share repurchases and other payout methods are an integral feature of reserves will decline following repurchases. As the investment opportunities shrink, more cash will be paid out to shareholders. Thus, the good news is the ... Retrieve Content

CHAPTER 14 Distributions To Shareholders: Dividends and Share ...
How would a change in investment opportunities affect dividends under the residual policy? Fewer good investments would lead to smaller Dividends and share repurchases Investor preferences on dividends Signaling effects Residual model Dividend reinvestment plans Stock repurchases ... Doc Viewer

The Market Reaction To Open Market share repurchases ...
Force them to forgo profitable investment opportunities, but might also push them into financial distress. The first version of the signalling theory would imply that Share repurchases in South Africa were allowed on an informal basis from July 1999. ... Access Full Source

Dividends and Share Repurchases (Buybacks)
Dividends and Share Repurchases (Buybacks) Chapter 8. 2 Distributions to shareholders: Dividends and Share Repurchases Theories of investor preferences Signaling effects poor investment opportunities) IRS could impose penalties if repurchases ... Fetch Document

Cytec Sales And Earnings Up Composite Sales Down
($8.7 million after-tax or $.20 per diluted share)." Share Repurchases Continue "We continue to be optimistic about the global opportunities to grow Cytec and maintain top quartile performance in our industry sector. Investment Community: William (Bill) Cleary, 973/357-3298 ... Read Article

The Multi-Strategy Growth & Income Fund Declares Quarterly Dividend
SAN DIEGO, Calif. -- via PRWEB - RJL Capital Management, LLC, the San Diego-based investment adviser, announced the quarterly dividend of its interval fund1, The Multi-Strategy Growth and Income Fund (the ... Read News

Stock Repurchases And Bank Holding Company Performance
Agency costs of free cash flow, especially in circumstances where investment opportunities have been reduced. Similarly, Lie (2000) share repurchases by financial firms – in particular, banks – would offer any further insights. ... Access Content

Corporate Share Repurchases: What Role Do Stock Options Play?
Appear to be explained by differences in investment opportunities across firms. This result share repurchases in the earlier analyses, are expected to be positively correlated with equity issuance using similar reasoning. ... Fetch Doc

The Information Content Of Share Repurchases-March 14 2003.
Thus, share repurchases and other payout methods are an integral feature of the process a decline following repurchases. As the investment opportunities shrink, more cash will be paid out to shareholders. Thus, the good news is the lower likelihood of overinvestment. ... Fetch Here

CHAPTER 14 Distributions To Shareholders: Dividends and Share ...
Payout = $320,000 / $800,000 = 40% How would a change in investment opportunities affect dividend under the residual policy? Fewer good investments Dividends and share repurchases Theories of investor preferences Signaling effects Residual model Dividend reinvestment plans Stock dividends ... Document Viewer

A Time-Series Analysis Of Corporate Payout Policies
Share repurchases and toward dividends are associated with subsequent increases in earnings. 1. the evolution over time of the firms’ investment opportunities because investment opportunities and actual investments undertaken are correlated. ... Access Content

Capital Structure Substitution Theory - Wikipedia, The Free ...
The CSS theory is only applicable in markets where share repurchases are allowed. Investors can use the CSS theory to identify undervalued low valued companies with limited investment opportunities and a high profitability are still expected to use dividends as the preferred means to ... Read Article

Dividend Policy - Wikipedia, The Free Encyclopedia
However, if r>k e then the investment opportunities reap better returns for the firm and thus, the firm should invest the retained earnings. These companies typically prefer dividends over share repurchases. Mathematical representation. ... Read Article

A Brief Overview Of Current Research On Dividends
3 – 43 Answers Relevant characteristics: profitability, investment (growth) opportunities, size Former payers: distressed Never payers: more profitable than former payers Share Repurchases, and the Substitution Hypothesis” Grullon and Michaely Journal of Finance, 57 (4 ... Retrieve Full Source

CHAPTER 14 Distributions To Shareholders: Dividends and Share ...
Dividends and share repurchases Investor preferences on dividends Signaling effects Residual model Dividend paid Residual dividend model: What if net income drops to $400,000? Rises to $800,000? How would a change in investment opportunities affect dividends under the residual ... Document Viewer

Corporate Life Cycle and Share repurchases: Evidence From The ...
That repurchasing firms lack investment opportunities and their excess cash flow induces agency problem. Such excess use share repurchases to adjust their leverage ratio. Leverage is defined as the ratio of total debt to total assets. ... Document Viewer

Payout Policy - Houston Texas Bauer College Of Business - UH
Payout Policy Lecture 05 FINA 7330 Fall, 2010 Ronald F. Singer * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Capital Market Reallocation Share repurchases are associated with shrinking investment opportunities Asset base shrinks after repurchase Repurchases accompanied ... Retrieve Document

CHAPTER 13 Dividend Policy - Bilkent University
Distributions to Shareholders: Dividends and Share Repurchases Theories of investor preferences Signaling effects Residual model Dividend reinvestment plans How would a change in investment opportunities affect dividend under the residual policy? ... Fetch This Document

CHAPTER 14 Distributions To Shareholders: Dividends and Share ...
Dividends and share repurchases Theories of investor preferences Signaling effects Residual model Dividend reinvestment plans Stock dividends and stock splits poor investment opportunities). IRS could impose penalties if repurchases were ... Fetch Full Source

How Do Stock Repurchases Affect Bank Holding Company Performance?
Cash flow, especially in circumstances where investment opportunities have been reduced. Similarly, Lie (2000) argues that large incremental distributions of cash through special dividends and stock share repurchases by financial firms – in particular, ... Read Here

The Information Content Of Share Repurchases-11-29-02
But then a question remains: If investment opportunities decline after share repurchase announcements, why would the market react positively to such events? Thus, share repurchases and other payout methods are an integral feature of the process a ... Access Full Source