Różnorodność polityki regularnych wypłat dywidendy a kondycja finansowa spółek notowanych na warszawskim parkiecie
Diversity of the Policy of Regular Dividend Payments and the Financial Condition of Companies Listed on the Warsaw Stock Exchange

Summary/Abstract: This paper is empirical in nature. Its main purpose is to identify and characterize the relationship between the specified policy of regular dividend payments and a financial condition of a company. This objective was achieved by an empirical verification of research hypothesis stating that the companies implementing different policy of regular dividend payments differ significantly in terms of the financial standing. The verification of research hypothesis was based on the financial data of public companies operating in all sectors of polish economy. The condition for the company to be included in the sample was to conduct dividend payments for at least five years. The studies were conducted using descriptive statistics, ANOVA with post-hoc Tukey -Kramer test and non-linear correlation coefficient. The research showed that more and more polish companies paid divided regularly. Among them dominated those paying constant dividend per share. Moreover, statistically significant differences were observed in the financial condition of the companies that conducted different policy of regular dividend payments.

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