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  • Dividends & Share Repurchases

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    a65b66inc
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    This document discusses different types of corporate actions including stock dividends, stock splits, reverse stock splits, and cash dividends. It also covers share repurchases which can be done through open market repurchases, tender offers, or direct negotiations. The document compares share repurchases to cash dividends in terms of their tax treatment, signaling effect to investors, potential for insider trading, and possibility of market manipulation.

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    Similarities and Differences between Dividends & Share Repurchases.

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    Dividends

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    This document discusses different types of corporate actions including stock dividends, stock splits, reverse stock splits, and cash dividends. It also covers share repurchases which can be done through open market repurchases, tender offers, or direct negotiations. The document compares share repurchases to cash dividends in terms of their tax treatment, signaling effect to investors, potential for insider trading, and possibility of market manipulation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    21 views5 pages

    Dividends & Share Repurchases

    Uploaded by

    a65b66inc
    This document discusses different types of corporate actions including stock dividends, stock splits, reverse stock splits, and cash dividends. It also covers share repurchases which can be done through open market repurchases, tender offers, or direct negotiations. The document compares share repurchases to cash dividends in terms of their tax treatment, signaling effect to investors, potential for insider trading, and possibility of market manipulation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 5

    Dividends & Share Repurchases

    Corporate Actions
    Stock Dividend Stock Split

    Reverse Stock Split


    Cash Dividend Regular / Special / Liquidating Share Repurchase

    Cash Dividend

    Share Repurchase
    Open Market Repurchase
    Timing Control Market Price

    Tender Offer
    Price Control Premium to Market Price

    Direct Negotiation
    Ownership Control Premium to Market Price

    Share Repurchase V/s Cash Dividend


    Tax Treatment Signaling Effect (Legal) Insider Trading!!! Market Manipulation?!

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