Sun Acquisitions

APRIL 25, 2025

Increased capital gains taxes can have a far-reaching impact on the business landscape, with ripple effects extending to various sectors, including private equity and venture capital (PE/VC) investments in mergers and acquisitions (M&A).

Equity 100

Equity Dividends Marketability 100

Benzinga

JUNE 10, 2024

Dividend Boost : Additionally, Noble’s Board of Directors has approved a 25% increase in its quarterly dividend to $0.50 The transaction expected to close by the first quarter of 2025, subject to customary closing conditions. Once the deal is completed, Diamond shareholders will hold approximately 14.5%

Dividends 98

Dividends Equity 98

Musings on Markets

JANUARY 10, 2025

Thus, as you peruse my historical data on implied equity risk premiums or PE ratios for the S&P 500 over time, you may be tempted to compute averages and use them in your investment strategies, or use my industry averages for debt ratios and pricing multiples as the target for every company in the peer group, but you should hold back.

Risk Premium 120

Risk Premium Dividends Start-ups Corporate Finance 120

Musings on Markets

JANUARY 21, 2023

In this post, I will begin by chronicling the damage done to equities during 2022, before putting the year in historical context, and then examine how developments during the year have affected expectations for the future. Actual Returns Your returns on equities come in one of two forms. Stocks: The What? at the start of that year.

Equity 95

Equity Risk Premium Start-ups Dividends 95

Musings on Markets

AUGUST 5, 2023

If you have been reading my posts, you know that I have an obsession with equity risk premiums, which I believe lie at the center of almost every substantive debate in markets and investing. How, you may ask, can equity risk premiums be that divergent, and does that imply that anything goes?

Risk Premium 98

Risk Premium Equity Start-ups Treasury 98

Harvard Corporate Governance

OCTOBER 27, 2023

Wang; and Share Repurchases, Equity Issuances, and the Optimal Design of Executive Pay (discussed on the Forum here ) by Jesse Fried. Related research from the Program on Corporate Governance includes Short-Termism and Capital Flows (discussed on the Forum here ) by Jesse Fried and Charles C.

Dividends 162

Dividends Finance Equity 162

Reynolds Holding

DECEMBER 5, 2022

In a new paper, we use agency theory to explore the effect of board independence on dividend policy. Dividends serve as a governance mechanism to mitigate agency conflicts, reducing free cash flows, which managers may exploit for personal gain rather than using them to maximize shareholder wealth.

Dividends 64

Dividends Marketability Equity 64

Brian DeChesare

MAY 3, 2023

When I started offering financial modeling training , I never expected to get questions about a methodology like the Dividend Discount Model (DDM). Otherwise, the written version follows: Why Use a Dividend Discount Model? The main argument in favor of the DDM is that it best represents what happens in real life when you buy a stock.

Dividends 64

Dividends Terminal Value Enterprise Value Equity 64

Harvard Corporate Governance

AUGUST 19, 2022

Can High ESG Ratings Help Sustain Dividend Growth? Tags: Capital allocation , Dividends , ESG , Firm performance , Growth rates. Posted by Kem Ihenacho, Clare Scott, and Anne Mainwaring, Latham & Watkins LLP, on Monday, August 15, 2022. On Index Investing. Posted by Subodh Mishra, Institutional Shareholder Services, Inc.,

Dividends 222

Dividends Equity Marketability 222

Financial Times M&A

JUNE 19, 2024

‘Dividend recapitalisations’ hit record rate as private equity owners take advantage of easy credit conditions

Dividends 101

Dividends Equity 101

Andrew Stolz

AUGUST 5, 2020

Definition of the Cost of Equity. The theoretical return the firm pays its equity investors (shareholders) is known as the cost of equity. In other words, the cost of equity is the rate of returns a firm pays to its shareholders. What Impacts the Cost of Equity? Dividend per share . Risk-free rate .

Equity 52

Equity Risk-free Rate Dividends Beta 52

Andrew Stolz

AUGUST 4, 2020

Definition of Equity Risk Premium. What Impacts the Equity Risk Premium? Dividends . How Do You Calculate Equity Risk Premium? Equity risk premium can be calculated by subtracting the expected risk-free rate from the market expected return. Equity risk premium = Market Expected Return (Rm) – Risk free rate (Rf).

Risk Premium 52

Risk Premium Equity Risk-free Rate Dividends 52

Andrew Stolz

FEBRUARY 7, 2022

Massive dividend yield secured by strong cash generation. Cash machine ensures consistent massive dividend yield. It consistently delivered strong FCFF that were more than sufficient to cover high dividends. The FCF yield shows ROEC’s dividend-paying potential. Highlights: End markets mature, no opportunities to grow.

Dividends 52

Dividends Net Debt EBIT Marketability 52

Harvard Corporate Governance

NOVEMBER 3, 2023

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, November 3, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of October 27-November 2, 2023 Implementation of Share Buybacks and Their Impact on Corporate Governance Posted by Michael Seigne (Candor Partners Limited), (..)

Dividends 184

Dividends Equity Marketability 184

Chris Mercer

AUGUST 1, 2022

This eleventh post in the Deja Vu series involving restricted stock studies addresses an issue that is rarely mentioned in the context of the studies – of the impact of dividends on restricted stock discounts (RSDs). Of these 244 transactions, only 24 involved companies that paid dividends, or less than 10% of the transactions.

Dividends 52

Dividends Appraisal Marketability Start-ups 52

Benzinga

AUGUST 16, 2024

Options include returning money to shareholders with dividends or share buybacks, exploring for gold and developing mines themselves, or buying other miners to bulk up on deposits quickly.

Dividends 111

Dividends Banking Equity Marketability 111

Musings on Markets

APRIL 7, 2025

Not surprisingly, the markets opened down on Thursday and spent the next two days in that mode, with US equity indices declining almost 10% by close of trading on Friday. US equities had the biggest decline in dollar value terms, losing $5.3

Marketability 93

Marketability Risk Premium Start-ups Equity 93

Reynolds Holding

OCTOBER 3, 2024

In a new paper , we explore the role of equity financing in supporting firms during the pandemic. Specifically, we examine how receiving equity financing affected stock performance, financial distress, and firms’ pay outs and investment decisions. We find that there is merit in raising equity during an economic downturn.

Equity 45

Equity Equity Financing Dividends Finance 45

Benzinga

APRIL 4, 2022

The deal values Hypebeast at a pro forma equity valuation of $534 million. Public Iron Spark shareholders will continue to receive a 5 cent quarterly dividend until the deal closes. Here’s a look at the company and deal. The SPAC Deal: Hypebeast announced a SPAC merger with Iron Spark I (NASDAQ: ISAA ) Monday morning.

Dividends 98

Dividends Equity eCommerce 98

Brian DeChesare

OCTOBER 30, 2024

Corporate finance jobs at normal companies are bad … …if you’re using them to break into a deal-based field, such as investment banking , private equity , or venture capital , or as a “Plan B” if you interview around but do not get into one of these. The key questions that corporate finance teams answer also vary.

Corporate Finance 105

Corporate Finance Finance Treasury Banking 105

Musings on Markets

MAY 20, 2022

In my last post , I discussed how inflation's return has changed the calculus for investors, looking at how inflation affects returns on different asset classes, and tracing out the consequences for equity values, in the aggregate.

Price to Book 103

Price to Book Dividends Beta Equity 103

Equidam

AUGUST 10, 2023

Guest post from an Equidam partner: Bianca Iulia Simion , Marketing Lead at SeedBlink As the world of startups continues to evolve and mature, navigating the intricacies of equity management has emerged as a critical aspect of successful entrepreneurship. This leads to confusion and potential conflict during fundraising rounds.

Equity 52

Equity Capital Structure Dividends Marketability 52

Law 360 M&A

JULY 22, 2024

A private equity seller of a solar panel fintech lender that Fifth Third Bank bought in 2022 has sued the bank in New York federal court to free up $20 million in indemnity escrow funds that it alleges the bank has tried improperly to withhold over state investigations tied to the fintech.

Dividends 52

Dividends Banking Equity 52

Musings on Markets

JANUARY 5, 2024

I have also developed a practice in the last decade of spending much of January exploring what the data tells us, and does not tell us, about the investing, financing and dividend choices that companies made during the most recent year. Return on Equity 1. Dividends and Potential Dividends (FCFE) 1. Return on Equity 2.

Dividends 107

Dividends Risk Premium Equity Book Value 107

Benzinga

DECEMBER 29, 2023

An update is provided on several matters of importance for Shareholders including the acquisition, an associated dividend for ILUS Shareholders, merger agreement negotiations, subsidiaries, and financing. The company has signed contracts to acquire the controlling interest of an OTC listed SEC Reporting company.

Dividends 40

Dividends Finance Equity Technology 40

Global Finance

JULY 23, 2024

Significantly, Mizuho CEO Masahiro Kihara said the bank will either pass on the proceeds from its sales of equity holdings to investors as dividends or invest them in growth-directed activities, and Sumitomo Mitsui aims to reduce the market value of its equity holdings to less than 20% of the value of its consolidated net assets.

Price to Book 111

Price to Book Banking Dividends Equity 111

Benzinga

JUNE 24, 2022

Pursuant to the terms of the agreement in respect of the Arrangement, the quarterly dividend of US$0.17 The dividend record date of June 15, 2022 remains unchanged. is an investment firm, operating integrated businesses across private equity, credit, and other related strategies. About Clearlake Capital Group, L.P.

Dividends 40

Dividends Equity 40

Equilest

MARCH 28, 2025

distressed firms) Companies facing bankruptcy Impact on Investors and Stakeholders Risk to shareholders Implications for lenders and creditors How Negative Equity Affects Valuation Impacts on stock price Effect on mergers and acquisitions Can a Business Recover from Negative Equity? How does negative equity affect dividends?

Equity 40

Equity Net Debt Enterprise Value Capital Structure 40

Benzinga

SEPTEMBER 9, 2024

Progress Software Corporation (NASDAQ: PRGS ) shares are trading lower on Monday. The company entered a definitive deal to acquire ShareFile for $875 million, in a combination of cash and an existing revolving credit facility.

Dividends 59

Dividends Equity 59

Value Scout

FEBRUARY 24, 2023

Private equity firms provide meaningful investment capital to growth-oriented businesses. Businesses seeking expansion, change of investors, or even exit may benefit from private equity firms. Businesses seeking expansion, change of investors, or even exit may benefit from private equity firms.

Private Equity Firm 52

Private Equity Firm Equity Start-ups Dividends 52

Brian DeChesare

JANUARY 4, 2023

Just look at the handy chart the Financial Times put together to see the horrifically bad numbers: In January 2022, everything seemed quite frothy, with mega-deals happening left and right and crypto and equity prices still at high levels. Real Estate (Equity Funds + Owned Properties): 15% [Up 5%]. Short-Term U.S.

Marketability 98

Marketability Start-ups Dividends Treasury 98

Benzinga

APRIL 26, 2023

Non-performing Assets were 0.14% of Total Assets at March 31, 2023 Common Equity Tier 1 and Tangible Common Equity Ratio of 12.16% and 7.63%, Respectively, at March 31, 2023 1 LAKEVILLE, Conn., Net Interest and Dividend Income Tax equivalent net interest income of $11.3 Capital Shareholders' equity increased $4.0

Dividends 40

Dividends Banking Equity Book Value 40

Musings on Markets

FEBRUARY 8, 2025

The Hurdle Rate - Intuition and Uses You don't need to complete a corporate finance or valuation class to encounter hurdle rates in practice, usually taking the form of costs of equity and capital, but taking a finance class both deepens the acquaintance and ruins it.

Risk Premium 75

Risk Premium Beta Start-ups Equity 75

Musings on Markets

JANUARY 17, 2024

Heading into 2023, US equities looked like they were heading into a sea of troubles, with inflation out of control and a recession on the horizon. Breaking equities down by sub-region, and looking across the globe, I computed the change in aggregate market capitalization, by region: While US stocks accounted for about $9.5

Risk Premium 82

Risk Premium Start-ups Equity Dividends 82

Brian DeChesare

OCTOBER 12, 2022

If you search for “how to start a private equity firm” online, you’ll find results that range from useless to tangentially useful to occasional nuggets of real wisdom. Starting a private equity firm is a bad decision for ~95% of people who work in the finance industry. How Does It Work? Degrees such as an MBA or a Ph.D.

Private Equity Firm 59

Private Equity Firm Equity Start-ups Marketability 59

Valutico

MAY 19, 2025

This ratio offers insight into a companys profitability and relative value by comparing its total worth (Enterprise Value, encompassing debt and equity) to its operational earnings (EBITDA). EV typically includes Market Capitalization, Debt, Minority Interest, and Preferred Equity, minus Cash & Cash Equivalents.

EBITDA 52

EBITDA Enterprise Value Capital Structure EBIT 52

Musings on Markets

SEPTEMBER 27, 2022

In a third post on July 1, 2022 , I pointed to inflation as a key culprit in the retreat of risk capital, i.e., capital invested in the riskiest segments of every market, and presented evidence of the impact on risk premiums (bond default spreads and equity risk premiums) in markets.

Risk Premium 99

Risk Premium Treasury Start-ups Equity 99