Critically analyse from the appropriate theoretical perspective the dividend policy announcements for the last 10 years of the one of the following companies The companies from which you can choose are Barclays Plc (BARC L) BP Plc (BP L) SAB Mille

ive of the company should be to maximize the value of the company for shareholders but to achieve this purpose, it also requires serving the economic interests of all stakeholders over time as maximizing stakeholders interests also maximizes shareholder wealth.
According to (Altucher, 2005)Coca-Cola company pays its dividend quarterly though currently it offers a yield of about 2.8%.The stocks quarterly payout of 0.28 dollars per share has held a stable all the way through 2013 .the company has had a history of raising dividends on a yearly basis. For the year 2013 based on the analyst, Coca-Cola pay-out ratio sits around 53.68% and for this year it has a pay-out ratio of 50%.Shareholder wealth being defined as the net present value of the expected future returns to the shareholders of the firm where these returns can take the form of periodic dividends payments and proceeds the sale of the stock whereby the shareholder wealth is measured by the market value of the firms common stock. Through the quarterly periodic of paying dividends to the Coca-Cola company, shareholders have in a way promoted the maximization of the shareholders wealth. Since 2008 Coca-Cola has increased its dividend by more than 60% where in the year 2008 its dividend per share was $0.76,$0.82 in the following year,$0.88 in the year 2010,$0.94 for the year ended 2011,$1.02 in the year 2012 and $1.12 dividend per share for the last year and currently having $1.22 dividend per share. This has given Coca-Cola Company a very solid yield of approximately 2.95%.Free cash flow is a financial metric that helps Coca-Cola company yield 2.95 % and allow for the continual increase. Quarterly an year Coca-Cola company approximately its left with about $6.824 billion after paying its bills, employees, taxes, interest on debt and making necessary capital expenditure which on the statement of cash flow its calculated by subtracting capital expenditures from net cash provided by operating activities. Analysing