The Specific of Dividend Payments of Hich-Tech Companies in the United States

ANNOTATION Dissertation 75 pages., 3 parts, 1 drawings, 31 spreadsheets., 11 diagrams, 39 sources; 5 applications THE SPECIFIC OF DIVIDEND PAYMENTS OF HIGH-TECH COMPANIES IN THE UNITED STATES This dissertation is devoted to two questions. 1. Study of the features of the dividend policy of high tech-companies in the United States. 2. Investigations of the question whether the payment of dividends by the company affects stocks' price of the company’s shares. The aim of the work is to identify which investment strategy is more advantageous, namely investing only in dividend companies; investment in non-dividend companies; or a mixed strategy. Mixed strategy is strategy when investment take place in all companies in the sample without dividing them according to the principle of whether its pay dividend, or not. For this, three investment portfolios are compiled, calculated, and compared. The practical significance or the master’s dissertation lies in the possibility of its practical application in the field of portfolio investment; as complied, calculated analyzed portfolios in which shares, are collected, companies belonging to the category of fast-growing high-yield. To analyze features of dividend policy and build investment portfolios, a sample of fifty-nine high-tech US companies included in Nasdaq Composite stock index was used. Only hich-tech companies were selected from the index; by capitalization (based on the principle: top down).