Rather than imposing a straight fine, taking away franking credits would ensure shareholders feel more pain when companies misbehave.
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Articles on Dividends
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Financial theory shows that the dividend is economically neutral, although it helps to reassure the shareholder psychologically.
Wages are going backwards, loans are in arrears, companies are being kept alive by government support and an exemption from insolvency rules, yet still they are paying out dividends.
Westpac and the ANZ have suspended dividends payments. The National Australia Bank has slashed them. The peculiarities of our tax system explain why retirees hate this more than they should.
APRA is allowing the big four banks to coordinate in a way that might otherwise be illegal.
Directors' obsession with maximising shareholder value has sucked the liquidity out of companies, making them brittle in the face of crises.
Employee-owned businesses benefit from boosted productivity, profitability, and staff morale. So why are they so rare?
Businesses who pay dividends to shareholders with tax credits attached pay more tax, new research finds.
Scrapping cash refunds on dividends could make the tax system fairer. But super funds could invest less in Australian companies.
Shareholders appear to achieve greater returns from corporations which are less aggressive tax planners and pay a greater percentage of tax, according to a new pilot study.
Rather than lifting investment, Australian businesses have chosen to return cash to shareholders in the form of record dividends and share buybacks.
Arguments about reducing the tax burden of companies tend to get associated with rabid neoliberals. Here's why they needn't be.
Why stop at 17%?
BHP’s board has navigated well through mining's highs and lows and still passed the shareholder value test.
Efforts to break our financial addiction to the energy sector might find useful lessons in the slow decline of tobacco.
Australian companies are paying more of their profits out as dividends, and if it continues it will hurt our economy.
Like most companies, banks report their profits twice a year. Each time the majors report we see headlines about the size of the profits and implicit or explicit criticism of the amount – this time about…
There is currently considerable interest in the practice of “dividend washing”. This refers to the practice of investors being able to trade shares cum-dividend for a period after the ex-dividend date…
Top contributors
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Emeritus Professor of Finance, The University of Melbourne
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Lecturer in Accounting, Edinburgh Napier University
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Sessional Lecturer, PhD (Management) Candidate, School of Management, RMIT University
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Lecturer in Social Procurement, The University of Melbourne
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John Daley is a Friend of The Conversation.
Senior Fellow, Grattan Institute
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Principal Fellow, Melbourne Business School
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Associate Professor, Finance, The University of Western Australia
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Vice Chancellor's Fellow at Victoria University and Adjunct Professor of Economics, Victoria University
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Professor, Accounting Discipline Group, University of Technology Sydney
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Professor of Taxation, QUT Business School, Queensland University of Technology
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Professor of Economics, UNSW
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Senior Lecturer, Monash Business School, Monash University
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Associate Professor, Accounting, University of Technology Sydney
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Professor of Finance, Lancaster University
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PhD Candidate, casual academic, University of Technology Sydney
