Five Days / The listed companies Spanish be paid this year in dividends something over 27,000 million euros, nothing less than 2.5% of the gross domestic product, an amount even greater than that will raise the Exchequer for the profit tax of the enterprises and, of course, a game of resources much greater than that for this same year will be charged Spanish investors for the more than 800,000 million housed in bank deposits. This is not even the record volume paid by businesses, which was achieved in 2014 with more than 43,000 million by extraordinary payments of Endesa to their partners, and even the subscriber in 2009, when it began the crisis, which exceeded the 33,000 million. But it is an amount that continues to becoming on the Spanish Stock market on the more generous with shareholders from all over Europe, an attractive non-negligible if we take into account that 25% of the listed assets are in the hands of the Spanish households. It is, therefore, the return provided by the dividend payment of regular income for many families and a snap-remarkable to others.
in Addition, given the circumstances of the financial markets, surrounded by an expansive monetary policy on the zero percent , the dividend yield offered by listed companies has taken a prominent place as the target of the investors. Regardless of the revaluation of the investment, that may well not occur (in fact, in 2016, the Spanish Stock market has fallen 2% in their index more selective), the dividend yield is the handle more explicit than are investors, especially when the rest of the assets, while exposing themselves to less risk, does not have any guarantee of return. Those who opt for deposits are converted exclusively into suppliers of liquidity for the banking sector, and those who opt for bonds, especially public, have very little margin of profitability.
interest rates are so flat they have a double effect on the dividends of the companies. In the first place , generate the highest margin in the profit and loss account for the precipitous fall in financial costs, which was one of the most pressing problems for societies that had been developed in a scenario of rising indebtedness; and in the second place, there is no point of comparison with the revenues provided by the rest of the financial assets.
The Spanish companies that have culminated since the cuts in payments to its partners, which in many cases were damaging to the financial reputation (the rating assigned by the companies rating and that determines its cost of financing) of some companies, and in parallel accumulate some years of consolidation of results growing that provide visibility to the accounts of results, which makes the track more explicit in order to choose the bets that best will respond in sharing of benefits. This year experts predict further increases of the black numbers of listed companies, both by his activity in the national territory and outside, where only a number of political events can contaminate the performance of the companies and their behavior in the Stock market.
In any case, in order to compose a portfolio based on the dividend, investors should also take their precautions . Must analyze well the accounts of the companies, to choose both those that show a historical, consisting in the payment to the partners as those expectations well-founded obtain recurring benefits in the years to come, either by the growth of the activity in which they work, by its lack of indebtedness, as by the recurring and growing cash generation. They must also be attentive to the evolution of the management of the companies they choose, since there are examples of very recent date change of the remuneration policy by the twists in the expectations of the market. And should always take into account the taxation of dividends, which for this year have changed, taxed as the payment of a scrip dividend to those who are made in cash. In addition, they should monitor the possibility of double taxation in case of foreign companies, and the tax rates are increasing funct ion of the amount received.
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