英语翻译They will pay dividends only when the earnings for the p

英语翻译
They will pay dividends only when the earnings for the period exceed the amount of equity required for financing investments.
Required Investment
Firs,estimate the dollar amount required for planned investments.
Common Equity Financing
Next,determine the amount of common equity to finance the investments,maintaining the optimal capital structure.
Pay Dividends
Finally,pay dividends from any residual earnings.
The residual dividend policy maximizes capital gains and postpones to be paid by shareholders.
Constant payout policy
Under this policy,dividends are paid as a constant perecentage of earnings.
Fluctuations in Dividends:The constant payout policy can cause fluctuations in dividends if earnings are volatile.
Policy usage:Very few companies use this policy since the payment of future dividends is uncertain
Stable dividends with growth
Avoiding swings in stock prices:It avoids swings in a company’s stock prices caused by variable dividends.
The policy is as follows:Dividend Payment:Conservatively low,stable dividends.
Payout Ratio:They payout ratio is allowed to fluctuate as earnings change.
Dividends rates over time:Dividend rates are increased only when the company maintains higher levels of earnings for several years.
Stable dividends with growth plus an extra dividend
In this policy,the board of directors follows the stable dividend with growth policy and adds an additional dividend at year-end when earnings are exceptionally high.
Dividend matching:This allows the matching of dividends to the amount of current earnings.
“Extra”dividend:The “extra”dividend signals to investors that this dividend may not reoccur in the future.

他们将支付股息只有当期间的收入超过了股权融资所需投资金额.
所需投资
杉杉,估计金额为计划的投资需要.
普通股融资
接下来,确定共同的股权融资的投资金额,维持最佳的资本结构.
支付股息
最后,从任何剩余收益支付股利.
剩余股利政策的资本收益最大化,并推迟到由股东支付.
恒派息政策
根据这项政策,股息支付的收入不断perecentage.
股息的波动：常量派息分红政策可能会导致收益的波动,如果波动.
政策用法：很少有公司使用,因为未来的股利支付这一政策是不确定的
稳定与增长分红
避免股票价格的波动：这可以避免由变量股息引起公司股票价格波动的影响.
该政策如下：股息付款方式：保守低,稳定的分红.
赢钱比例：允许他们支付比率为浮动收益的变化.
随着时间的推移股息率：股息率只增加时,该公司连续几年保持较高的盈利水平.
稳定与增长的股息红利加上一
在这项政策下,董事会遵循稳定的股息与增长的政策,并增加了在年底时的收入,是非常高的额外分红.
股息匹配：这允许匹配的股息的当期收益金额.
“额外的“红利：“额外”分红给投资者,这可能不会再次出现在未来股息信号.