Dividends or buybacks: what Lintner, Apple and Tesco show
For a CFO or owner deciding whether to pay profit out or keep it. Lintner found companies adjust dividends only part of the way; Apple sent most of its cash back through buybacks; Tesco held its dividend above its own policy, then paid a special one. A side-by-side look.
#dividend-policy#share-buyback#payout-ratio#dividend-signalling#capital-allocation
