Dywidenda jako czynnik wpływający na opłacalność inwestowania w akcje
Dividend as a factor influencing the profi tability of investing in shares
Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, 2007, vol., nr 63, s. 61-70
The article aims at determining the dependence between the payment of dividend and the return rate of investment in the company’s shares. Furthermore, the author presents the legal conditions of the dividend payment and the importance of the dividend in shaping the market price of the share. The analysis shows that the return rate of the investments in the shares of the companies paying the dividend within the years 2003–2006 was in general higher than the average measured by the WIG index changes. In the analyzed period the number of companies paying the dividend increased. The average dividend rate ranged between 2,54% and 5,21%, what shows that the dividend isn’t the main source of income for the investors on Warsaw Stock Exchange.