摘 要 股利政策是现代公司财务决策的重要组成部分，其内容包括何时发放股利，发放何种股利，发放多少股利等。它的制定不仅影响公司未来业务发展，也影响资本市场投资者对公司发展前景的看法。而目前我国上市公司在股利分配方面还存在许多问题，因此本文就我国上市公司股利政策存在问题进行了详细的分析，并给出了相关的建议。 本文首先介绍了中外股利政策理论发展的情况，简要说明了股利分配的方式及政策种类，奠定了本文分析的理论基础；其次，文章分析了当前中国上市公司股利分配的总体特征，并结合典型公司案例分析，总结了中国上市公司股利政策的具体问题，及这些问题产生的原因；最后，本文就如何改善我国上市公司股利分配现状提出了几点建议。 关键词 上市公司 股利分配 股利政策 证券市场 成因分析 ABSTRACT Dividend policy is an important component of a modern company's financial decision-makings. The content of company dividend policy which includes the time, the kind and the amount of dividends payment will not only affect the future development of the listed company's business but also the opinion on the company's development prospects holding by investors. At present, China's listed companies still have many problems in the dividends policy makings. So this article will study on the dividend policy of listed companies in China and will give a detailed analysis on it and then give relevant recommendations. This paper first introduces the theory of dividends policy of the Chinese and foreign scholars; giving a brief description of the dividend distribution and types of ways which gives the theoretical basis for analysis; Secondly, the article analyzes the general features of China's listed companies dividend distribution policies, combined with the typical corporate case studies, and summed up the dividend policy on specific issues, and then, under the guidance of the theory, the paper studies the causes of these problems; Finally, this article gives some suggestions on how to improve Chinese listed companies` distribution of dividends policy. KEY WORDS listed company dividend distribution dividend policy security market consequence analysis
