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Royce Micro Cap Closed Fund dividends and buy backs

Royce Micro Cap Closed Fund quarterly dividends per share.

Dividends per share are defined as the amount paid to common share holders. The payment is announced on the declaration date and paid on the payment date. Share prices typically fall by the dividend amount on the date the dividend is paid. The size and steadiness of dividends is an important component of the valuation of many companies, particularly income companies. The following plot shows the earnings and dividends for Royce Micro Cap Closed Fund

Royce Micro Cap Closed Fund dividends

Royce Micro Cap Closed Fund dividends and earnings

Dividend and Buybacks

Another way companies can generate income for shareholders it to buy back their shares, increasing the share price. This can have tax advantages for shareholders, but is also similar to paying a stock-based dividend to the remaining shareholders. The company accounts show the amount spent on dividends and share buybacks during the year. As these are costs (not income), they are shown as negatives in the accounts.

Buyback per share

By comparing the amount spent on buybacks with the amount of outstanding shares, the buybacks can be converted into a dividend per share format.

Comparison

To compare dividends accross stocks, we can compare a number of metrics including the actual dividend, the dividend yeild and the payout ratio.

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