I talked about something
called shareholder yield, which I think is far more important than just a company's dividend yield.
Once you take a more holistic view of cash distributions, what
we call shareholder yield, the picture changes yet again...
Not exact matches
Van Vliet and de Koning suggest using a combination of dividend
yield and buyback
yield (collectively
called «
shareholder yield» in certain cases, though Van Vliet and de Koning do not use that phrase in the book) to screen for value.
One minute he institutes a dividend policy that is at first based on a market value
yield, until his largest
shareholder rightly suggests on a conference
call that a more logical basis would be book value, to which he agrees, only to subsequently update the policy based on market value (again).
A much better approach is to be size agnostic, and to look at all of the cash flows, what we
call «
shareholder yield.»