{"id":31621,"date":"2023-12-07T10:53:04","date_gmt":"2023-12-07T10:53:04","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chinh-sach-co-tuc-dividend-policy-la-gi-muc-tieu-va-y-nghia.html"},"modified":"2023-12-23T09:38:37","modified_gmt":"2023-12-23T02:38:37","slug":"chinh-sach-co-tuc-dividend-policy-la-gi-muc-tieu-va-y-nghia","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chinh-sach-co-tuc-dividend-policy-la-gi-muc-tieu-va-y-nghia.html","title":{"rendered":"Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c (Dividend Policy) l\u00e0 g\u00ec? M\u1ee5c ti\u00eau v\u00e0 \u00fd ngh\u0129a"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda. Ngu\u1ed3n: authorstream<\/p>\n<\/div>\n<\/div>\n

Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c (Dividend Policy)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c<\/b> trong ti\u1ebfng Anh l\u00e0 Dividend Policy<\/b>. Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c <\/i>th\u1ec3 hi\u1ec7n quy\u1ebft \u0111\u1ecbnh gi\u1eefa vi\u1ec7c tr\u1ea3 l\u1ee3i nhu\u1eadn cho c\u1ed5 \u0111\u00f4ng so v\u1edbi vi\u1ec7c gi\u1eef l\u1ea1i l\u1ee3i nhu\u1eadn \u0111\u1ec3 t\u00e1i \u0111\u1ea7u t\u01b0.<\/p>\n

\u00dd ngh\u0129a c\u1ee7a ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c<\/font><\/h3>\n

–\u00a0Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c<\/b> \u1ea3nh h\u01b0\u1edfng quan tr\u1ecdng \u0111\u1ebfn t\u1ec9 l\u1ec7 t\u0103ng tr\u01b0\u1edfng thu nh\u1eadp c\u1ee7a c\u1ed5 t\u1ee9c trong t\u01b0\u01a1ng lai c\u1ee7a c\u1ed5 \u0111\u00f4ng.\u00a0<\/p>\n

N\u1ebfu nh\u01b0 c\u00f4ng ty t\u00e1i \u0111\u1ea7u t\u01b0 l\u1ee3i nhu\u1eadn nhi\u1ec1u, trong khi v\u1eabn duy tr\u00ec \u0111\u01b0\u1ee3c m\u1ee9c sinh l\u1eddi tr\u00ean m\u1ed9t \u0111\u1ed3ng v\u1ed1n s\u1ebd gia t\u0103ng thu nh\u1eadp v\u00e0 c\u1ed5 t\u1ee9c cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u00e0nh v\u00e0 ng\u01b0\u1ee3c l\u1ea1i.<\/p>\n

–\u00a0Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c<\/b> t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n th\u1ef1c t\u1ebf c\u1ee7a c\u1ed5 \u0111\u00f4ng.\u00a0<\/p>\n

M\u1ed9t m\u1eb7t c\u1ed5 t\u1ee9c l\u00e0 thu nh\u1eadp \u1edf hi\u1ec7n t\u1ea1i v\u00e0 ch\u1eafc ch\u1eafn, m\u1eb7t kh\u00e1c ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c c\u00f3 th\u1ec3 gi\u1ea3m thi\u1ec3u c\u00e1c kho\u1ea3n chi ph\u00ed khi thu nh\u1eadp v\u1ec1 \u0111\u1ebfn tay c\u1ed5 \u0111\u00f4ng, v\u00ec thu nh\u1eadp th\u1ef1c t\u1ebf c\u00f3 th\u1ec3 b\u1ecb s\u1ee5t gi\u1ea3m do c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 thu\u1ebf thu nh\u1eadp, chi ph\u00ed giao d\u1ecbch.<\/p>\n

– Th\u00f4ng qua vi\u1ec7c tr\u1ea3 c\u1ed5 t\u1ee9c c\u00f2n th\u1ec3 hi\u1ec7n d\u1ea5u hi\u1ec7u th\u00f4ng tin v\u1ec1 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00f4ng ty ra ngo\u00e0i th\u1ecb tr\u01b0\u1eddng, \u0111\u1ebfn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c.\u00a0<\/p>\n

Khi \u0111\u00f3, n\u00f3 s\u1ebd t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn m\u1ed1i quan h\u1ec7 gi\u1eefa cung v\u00e0 c\u1ea7u v\u1ec1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty. V\u00ec th\u1ebf t\u00ecnh h\u00ecnh t\u0103ng gi\u1ea3m c\u1ed5 t\u1ee9c c\u1ee7a m\u1ed7i c\u00f4ng ty \u0111\u1ec1u c\u00f3 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n

V\u1edbi nh\u1eefng l\u00ed do tr\u00ean \u0111\u00f2i h\u1ecfi nh\u00e0 qu\u1ea3n tr\u1ecb c\u00f4ng ty ph\u1ea3i c\u00e2n nh\u1eafc xem x\u00e9t trong vi\u1ec7c ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c m\u1ed9t c\u00e1ch h\u1ee3p l\u00ed, ph\u00f9 h\u1ee3p v\u1edbi t\u00ecnh h\u00ecnh v\u00e0 xu th\u1ebf ph\u00e1t tri\u1ec3n c\u1ee7a c\u00f4ng ty.<\/p>\n

M\u1ee5c ti\u00eau<\/font><\/h3>\n

\u0110\u1ed1i v\u1edbi ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c<\/b>, vi\u1ec7c quy\u1ebft \u0111\u1ecbnh chia l\u1ee3i nhu\u1eadn d\u01b0\u1edbi d\u1ea1ng c\u1ed5 t\u1ee9c hay gi\u1eef l\u1ea1i l\u1ee3i nhu\u1eadn \u0111\u1ec3 t\u00e1i \u0111\u1ea7u t\u01b0 kh\u00f4ng l\u00e0m thay \u0111\u1ed5i s\u1ed1 l\u1ee3i nhu\u1eadn c\u00f4ng ty l\u00e0m ra, tuy nhi\u00ean n\u00f3 l\u1ea1i \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 tr\u1ecb v\u1ed1n c\u1ed5 ph\u1ea7n th\u00f4ng qua t\u00e1c \u0111\u1ed9ng t\u1edbi thu nh\u1eadp th\u1ef1c t\u1ebf hi\u1ec7n t\u1ea1i v\u00e0 t\u1ec9 l\u1ec7 t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai.<\/p>\n

– N\u1ebfu chia c\u1ed5 t\u1ee9c v\u1edbi t\u1ec9 l\u1ec7 cao so v\u1edbi\u00a0thu nh\u1eadp tr\u00ean m\u1ed9t c\u1ed5 ph\u1ea7n (EPS)\u00a0m\u00e0 c\u00f4ng ty l\u00e0m ra<\/p>\n

Khi \u0111\u00f3 \u0111\u1ee9ng \u1edf g\u00f3c \u0111\u1ed9 nh\u00e0 \u0111\u1ea7u t\u01b0, m\u1ee9c \u0111\u1ed9 r\u1ee7i ro s\u1ebd th\u1ea5p v\u00ec c\u1ed5 \u0111\u00f4ng \u0111\u01b0\u1ee3c nh\u1eadn c\u1ed5 t\u1ee9c v\u00e0 s\u1ebd hi\u1ec7n th\u1ef1c h\u00f3a t\u00e0i s\u1ea3n t\u1eeb c\u1ed5 t\u1ee9c \u0111\u01b0\u1ee3c chia, \u0111i\u1ec1u n\u00e0y l\u00e0m gi\u1ea3m t\u1ec9 su\u1ea5t sinh l\u1eddi \u0111\u00f2i h\u1ecfi c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 khi\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu t\u0103ng l\u00ean.<\/p>\n

Nh\u01b0ng ng\u01b0\u1ee3c l\u1ea1i, v\u00ec d\u00e0nh l\u1ee3i nhu\u1eadn cho vi\u1ec7c ph\u00e2n chia c\u1ed5 t\u1ee9c cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u00e0nh n\u00ean c\u00f4ng ty bu\u1ed9c ph\u1ea3i t\u1eeb b\u1ecf c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ti\u1ec1m n\u0103ng, khi\u1ebfn cho t\u1ec9 l\u1ec7 t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c trong t\u01b0\u01a1ng lai gi\u1ea3m v\u00e0 s\u1ebd l\u00e0m gi\u1ea3m gi\u00e1 c\u1ed5 phi\u1ebfu.<\/p>\n

– N\u1ebfu chia c\u1ed5 t\u1ee9c v\u1edbi t\u1ec9 l\u1ec7 th\u1ea5p so v\u1edbi thu nh\u1eadp tr\u00ean m\u1ed9t c\u1ed5 ph\u1ea7n (EPS)<\/p>\n

\u0110\u1ee9ng tr\u00ean g\u00f3c \u0111\u1ed9 nh\u00e0 \u0111\u1ea7u t\u01b0, m\u1ee9c \u0111\u1ed9 r\u1ee7i ro s\u1ebd cao v\u00e0 theo \u0111\u00f3, t\u1ec9 su\u1ea5t sinh l\u1eddi \u0111\u00f2i h\u1ecfi c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd cao h\u01a1n l\u00e0m gi\u1ea3m gi\u00e1 c\u1ed5 phi\u1ebfu, nh\u01b0ng \u0111\u1ed5i l\u1ea1i do t\u00e1i \u0111\u1ea7u t\u01b0 l\u1ee3i nhu\u1eadn n\u00ean t\u1ec9 l\u1ec7 t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c c\u1ee7a c\u1ed5 \u0111\u00f4ng trong t\u01b0\u01a1ng lai l\u1ea1i cao l\u00e0m cho d\u00f2ng ti\u1ec1n c\u1ee7a c\u1ed5 \u0111\u00f4ng t\u0103ng l\u00ean l\u00e0m t\u0103ng gi\u00e1 c\u1ed5 phi\u1ebfu.<\/p>\n

K\u1ebft lu\u1eadn<\/b><\/p>\n

T\u1eeb nh\u1eefng l\u1eadp lu\u1eadn tr\u00ean, c\u00f3 th\u1ec3 k\u1ebft lu\u1eadn r\u1eb1ng m\u1ee5c ti\u00eau c\u1ee7a ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c <\/b>l\u00e0 t\u1ed1i \u0111a h\u00f3a gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00f4ng ty, hay n\u00f3i c\u00e1ch kh\u00e1c l\u00e0 t\u1ed1i \u0111a h\u00f3a gi\u00e1 c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Hay c\u00f3 th\u1ec3 hi\u1ec3u m\u1ee5c ti\u00eau c\u1ee7a ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c<\/b> l\u00e0 t\u1ed1i \u0111a h\u00f3a l\u1ee3i \u00edch cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u00e0nh, t\u1ee9c l\u00e0 l\u1ef1a ch\u1ecdn ph\u01b0\u01a1ng \u00e1n ph\u00e2n chia c\u1ed5 t\u1ee9c \u0111\u1ea3m b\u1ea3o t\u1ed1i \u0111a h\u00f3a \u0111\u01b0\u1ee3c t\u1ec9 l\u1ec7 t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c trong t\u01b0\u01a1ng lai, nh\u01b0ng t\u1ed1i thi\u1ec3u h\u00f3a \u0111\u01b0\u1ee3c r\u1ee7i ro cho c\u1ed5 \u0111\u00f4ng.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh T\u00e0i ch\u00ednh doanh nghi\u1ec7p, NXB T\u00e0i ch\u00ednh)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ch\u00ednh s\u00e1ch c\u1ed5 t\u1ee9c (ti\u1ebfng Anh: Dividend Policy) th\u1ec3 hi\u1ec7n quy\u1ebft \u0111\u1ecbnh gi\u1eefa vi\u1ec7c tr\u1ea3 l\u1ee3i nhu\u1eadn cho c\u1ed5 \u0111\u00f4ng so v\u1edbi vi\u1ec7c gi\u1eef l\u1ea1i l\u1ee3i nhu\u1eadn \u0111\u1ec3 t\u00e1i \u0111\u1ea7u t\u01b0.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31621"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=31621"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31621\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}