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

Harvard Corporate Governance

JULY 16, 2023

Wang; and Share Repurchases, Equity Issuances, and the Optimal Design of Executive Pay (discussed on the Forum here ) by Jesse M. Prior to the initial rules issued in 1982 that allowed for buybacks, companies largely had to be dependent upon dividends to allocate excess cash. Fried, and Charles C.Y.

Dividends 244

Dividends Equity Marketability 244

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 160

Dividends Finance Equity 160

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

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

Harvard Corporate Governance

AUGUST 3, 2022

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.

Corporate Finance 201

Corporate Finance Finance Dividends Marketability 201

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

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

Benzinga

FEBRUARY 20, 2024

Walmart Inc (NYSE: WMT ) reported fourth-quarter FY24 net sales growth of 5.7% year-over-year to $173.39 billion, beating the consensus of $170.71 Adjusted EPS was $1.80, beating the consensus of $1.65. The stock price gained after the results. Net sales from Walmart U.S. increased 3.4% was up 2.0%.

Dividends 52

Dividends eCommerce Comps Equity 52

Harvard Corporate Governance

MAY 5, 2023

To the contrary, they enable companies to return excess cash to shareholders with greater tax-efficiency than dividends. [2] Issuers also sometimes repurchase shares for other legitimate purposes, including to “offset dilution from equity compensation plans, or [as] an appropriate investment when shares are viewed as undervalued.” [3]

Dividends 262

Dividends Firm Value Equity 262

Benzinga

JANUARY 12, 2024

BlackRock Inc (NYSE: BLK ) reported Q4 FY23 revenue growth of 7% Y/Y to $4.631 billion, marginally above the consensus of $4.627 billion. Investment advisory, administration fees, and securities lending revenues increased to $3.61 billion from $3.40

Dividends 52

Dividends Beta Technology Marketability 52

Benzinga

APRIL 28, 2023

With the success of the first quarter, the Board announced a quarterly cash dividend of $0.20 of tangible shareholders' equity (1) at March 31, 2023. million; Return on average assets was 1.01%; Return on average equity of 8.91% and return on average tangible common equity (1) of 11.97% for the quarter ended March 31, 2023.

Dividends 40

Dividends Banking Book Value Equity 40

Benzinga

NOVEMBER 9, 2023

TransDigm Group Incorporated (NYSE: TDG ) has entered into a definitive agreement to acquire the Electron Device Business of Communications & Power Industries , a portfolio company of TJC, L.P., for about $1.385 billion in cash.

Dividends 52

Dividends Marketability Equity 52

Reynolds Holding

AUGUST 2, 2023

2019) , for example, strong ESG performance correlates positively with higher equity returns and a reduction in downside risk. In a new paper, we address the impact of ESG ratings on a firm’s financial performance by studying how those ratings affect the cost of equity (COE). 2005; Kempf and Osthoff, 2007). public firms.

Equity 40

Equity Equity Financing Specific Risk Dividends 40

Benzinga

MARCH 5, 2024

pence per share in cash along with a special dividend per share of 2.5 pence in place of a final dividend for the year ended December 31, 2023. As per the terms, Spirent shareholders will receive 172.5 Full story available on Benzinga.com

Dividends 59

Dividends Technology Equity 59

Benzinga

MAY 9, 2023

Nexstar Media Group, Inc (NASDAQ: NXST ) reported a Q1 2023 net revenue growth of 3.9% billion, beating the consensus of $1.24 Revenues from Television Advertising declined 6% Y/Y to $425 million, comprising Core Advertising revenue that fell 2.6% Y/Y to $417 million and a 66.7% Y/Y decline in Political Advertising revenue to $8 million.

Dividends 52

Dividends Equity 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

Musings on Markets

MARCH 8, 2023

This is the last of my data update posts for 2023, and in this one, I will focus on dividends and buybacks, perhaps the most most misunderstood and misplayed element of corporate finance. Viewed in that context, dividends as just as integral to a business, as the investing and financing decisions.

Dividends 91

Dividends Start-ups Finance Corporate Finance 91

Musings on Markets

MAY 7, 2023

The Intrinsic Value of Bank Equity I am a dabbler in all things valuation-related, and I find the process fascinating, as stories about businesses get translated into valuation inputs, and finally into value. All Equity, All the time! With most non-financial service businesses, you face a choice in how you approach valuation.

Banking 63

Banking Price to Book Dividends Book Value 63

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 218

Dividends Equity Marketability 218

Chris Mercer

MARCH 7, 2024

The emerging attractiveness of the entity for equity offering, sale, merger or acquisition. Expected economic benefits associated with the subject interest, which come from interim benefits (dividends or distributions) and a terminal cash flow when the investment is sold or liquidated. 3) Preferential dividend claims. (4)

Dividends 52

Dividends Appraisal Terminal Value Business Valuation 52

Brian DeChesare

JANUARY 3, 2024

and far too little in equities. When the markets rallied after the initial COVID sell-off in March 2020, I put more cash into equities and real estate. And I reallocated these proceeds into crypto and equities and put in some excess cash. But my real estate investment funds were down ~10% , which hurt. I sold most of my U.S.

Marketability 59

Marketability Start-ups Equity Dividends 59

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

Andrew Stolz

AUGUST 6, 2020

The Gordon growth model, or GGM, is used to calculate the intrinsic value of a stock from future dividends. The model only works for companies that pay out dividends, which have a constant growth rate. Dividend growth rate . What Impacts the Gordon Growth Model? The required rate of return . P = D 1 /r – g.

Dividends 52

Dividends Equity Business Valuation Finance 52

Andrew Stolz

MARCH 6, 2020

When companies acquire a stake over another company, there are two accounting methods that could be used: cost method and equity method. Investments in equity shares of the investee company leading to the holding of less than 20% are generally accounted for under this method. Equity Method.

Dividends 52

Dividends Equity Marketability 52

Benzinga

MARCH 28, 2024

("IFH") (OTCQX: IFHI ) today announced that they have entered into a definitive merger agreement under which CBNK will acquire IFH in a cash and stock transaction valued at $66 million, exclusive of the value of a dividend to be received by IFH shareholders at or immediately prior to closing. and Capital Bank.

Banking 40

Banking Dividends Book Value Equity 40

Equilest

NOVEMBER 25, 2023

Uncover the intricacies of financial modeling, from understanding fundamental concepts like Free Cash Flow to Firm and Dividend Discount Model, to navigating advanced methodologies such as LBO and DCF. The resulting value represents the cash available to all contributors of capital—both debt and equity. What is Dividend Discount Model?

Discounted Cash Flow 52

Discounted Cash Flow Dividends Enterprise Value Terminal Value 52

Reynolds Holding

DECEMBER 10, 2023

As a capital allocation decision, share buybacks intersect all three of the main corporate finance activities of investing, financing, and dividends [1]. Buybacks for Financing A company can alter the debt-to-equity ratio of its capital structure by issuing debt and/or buying back shares. No, that risks massive regret. Of course not.

Dividends 45

Dividends Total Shareholder Return Corporate Finance Finance 45

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 96

Price to Book Dividends Beta Equity 96

Valutico

MARCH 20, 2023

million for the financial year ending 31 December 2022, and its tangible equity is expected to be around GBP 1.4 (USD They announced a 50% dividend payout ratio projected for 2023 and 2024 as well as a return to quarterly dividends from Q1 this year. HSBC is also planning a special dividend of $0.21 USD 1.68) billion.

Dividends 52

Dividends Banking Equity Market Capitalization 52

Musings on Markets

JANUARY 19, 2022

If equity markets surprised us with their resilience in 2020, not just weathering a pandemic for the ages, but prospering in its midst, US equity markets, in particular, managed to find light even in the darkest news stories, and continued their rise through 2021. The year that was.

Risk Premium 80

Risk Premium Risk-free Rate Start-ups Equity 80

Benzinga

APRIL 19, 2023

Kuwaiti Dinar (approximately $6.53) per share, subject to a reduction by the amount of any dividends received by the KIPCO Sellers after January 1, 2023 (the " Transaction "). Following the closing of the Transaction, Fairfax's equity interest in GIG will increase from 43.69% to 90.01%.

Dividends 40

Dividends Equity 40

Farrel Fritz

JANUARY 22, 2024

Equity dilution is another common method by which those in control of a corporation or LLC attempt to squeeze out a minority owner. Dilution and Excessive Compensation Challenges to dilutive equity awards commonly focus on equity that the company elects to award its employees or officers as compensation.

Equity 59

Equity Dividends Appraisal Marketability 59

Benzinga

DECEMBER 26, 2023

The company is also planning to pay a special dividend of $0.21 The Canadian government has approved the acquisition. HSBC said in an exchange filing that the transaction is expected to close in the first quarter of 2024. per share as a priority use of the proceeds from this sale in the. Full story available on Benzinga.com

Banking 52

Banking Dividends Equity Marketability 52

Chris Mercer

JULY 15, 2022

These cash flows are discounted to the present at an appropriate discount rate and equity value is determined. For simplicity, we will focus on the DCF model as applied to equity cash flows. This is estimated based the expected equity value of the business at the end of the expected holding period.

Discounted Cash Flow 52

Discounted Cash Flow Terminal Value Dividends Appraisal 52

Andrew Stolz

AUGUST 6, 2020

Absolute valuation is calculated through the discounted dividend model (DDM) method and discounted cash flow (DCF) method where you only focus on the stock and look at its dividends, cash flow, and growth. Often companies don’t pay dividends every quarter or every year hence making their payouts irregular. D0 = D1 ÷ (r – g).

Discounted Cash Flow 52

Discounted Cash Flow Dividends Price to Earnings Net Present Value 52

Valutico

OCTOBER 1, 2022

dividend yield and an ongoing share buyback program. . Given the stable dividend payout ratio of ~65%, we also performed utilized a Dividend Discount Model with a Cost of Equity of 6.3% The company generates strong cash flow, with much of it being returned to shareholders via a healthy 2.6% A WACC of 5.7%

Discounted Cash Flow 52

Discounted Cash Flow Dividends Market Capitalization Marketability 52