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2008年证监会《关于修改上市公司现金分红若干规定的决定》(下简称《决定》)提出的“30%”是当今热谈的“强制分红”政策主要内容之一。通过将公司可支配利润的30%拿出向股东分配,实则还能通过倒逼机制提升企业的经营意识。本文从强制分红意见提出的背景及强制分红政策入手,对《决定》及新的“四点意见”实施以来中国股票市场个股股利分配政策、股价变化进行了一定的研究,以期能够对现实交易进行一定的指导。
The “30%” proposal put forward by the “2008 Decision of the CSRC on Amending Some Provisions on Cash Dividend Distribution by Listed Companies” (hereinafter referred to as “the Decision”) is one of the main contents of the “Mandatory Dividend Payment” policy discussed today. By allocating 30% of the disposable profits of the company to shareholders, in fact, it can also promote the management awareness of enterprises by forcing down the mechanism. This paper starts with the background of compulsory dividend and the policy of compulsory dividend, and makes some research on the policy of dividend distribution and stock price changes in China’s stock market since the “Decision” and the new “Four Opinions” Trading for some guidance.