A study of dividends per share applied to companies de-listed from the Johannesburg Stock Exchange from 1970 to 2000
Thesis (MBA)--Stellenbosch University, 2001.
The objective of this mini study project is to record dividends of de-listed companies from copies of Annual Reports. It forms part of a larger research project at the Graduate School of Business of the University of Stellenbosch that aims at setting up a database containing published financial information on dividends for listed and de-listed companies. Dividends are a valuable source of information content. Recording, and thereafter employing an analysis of basic descriptive statistics on dividends, is one way to decipher such information. Calculating the average and median of dividends declared by companies sheds an insight to the nature of dividend payout. The purpose of the mini study project is to capture the interim, special, and final dividends per share. The method employed is to calculate dividend values and to compare them against those published. Total Rand values of dividends are calculated by multiplying the number of shares issued, by the dividends declared in cents, per share as noted on the directors' report, and notes to the income statement. This is achieved by means of an Excel spreadsheet model.