PROBLEMS OF DEVELOPING AN EFFECTIVE DIVIDEND POLICY OF DOMESTIC ENTERPRISES

Abstract

The company's dividend policy is an important aspect of financial management, which determines the way profit is distributed among shareholders in the form of dividends. This topic attracts the attention of both academics and practitioners, as it has a direct impact on the financial condition of the enterprise, its relations with investors and the overall management strategy. Research aimed at the formation of an effective dividend policy remains relevant, since certain aspects of the formation of such a policy of business entities are unresolved. The article systematizes and analyzes modern theoretical and practical aspects of the dividend policy of domestic enterprises. The main emphasis is aimed at studying the relationship between the company's financial performance and its dividend policy. The article summarizes the types and theories of dividend policy, reveals the main principles of its formation in a joint-stock company, analyzes the tools of influence on decisions regarding the payment of dividends, and also determines the main directions for improving this process in the context of maximizing the value of the enterprise and satisfying the interests of shareholders. Іn addition, the factors shaping the dividend policy of joint-stock companies are outlined. In the article, a study of the effectiveness of the dividend policy of PJSC "Kyivstar" for 2017-2021 was conducted. The use of correlation-regression analysis showed that the relationship between the indicators of the company's net profit and the amount of dividends paid is directly proportional and quite significant (the density of the relationship between the indicators is high). Evaluating the effectiveness of the dividend policy is a difficult task, as it must take into account the different needs of the owners, creditors and management of the enterprise. An optimal dividend policy should minimize conflicts and take into account the company's overall financial goals. As a result of a balanced and effective dividend policy, an optimal distribution of resources is achieved, which contributes to the successful functioning of the enterprise and the increase in the attractiveness of its shares for investors.