MAC3761 STUDY SUMMARY NOTES TEST PAPER 2026 COMPREHENSIVE Q&A WITH FULL SOLUTION

MAC3761 STUDY SUMMARY NOTES TEST
PAPER 2026 COMPREHENSIVE Q&A WITH
FULL SOLUTION

⩥ How does the Zero Payout policy treat dividends? Answer: -Firms
may not pay dividends due to:
-insufficient profits or;
-as voluntary choice and prefer alternative forms of distribution to
shareholders


⩥ What are the three types of dividend payments(in terms of timing) that
are common in South Africa? Answer: -Interim Dividend
-Final Dividend
-Special Dividend


⩥ What is the interim Dividend? Answer: -Normally declared in the
middle of accounting reporting period when interim results are issued


⩥ How does the JSE define an interim dividend? Answer: a dividend
after a reporting period eg 6montly


⩥ What is the Final Dividend? Answer: Declared at the end of the
accounting period when final annual results are issued

, ⩥ How does the JSE define the final dividend? Answer: a Dividend
declared for the financial year-end


⩥ What is the Special Dividend? Answer: Issued over and above final
dividend payment


⩥ How does the JSE define the Special dividend? Answer: a dividend
declared for the interim or financial year-end, over and above the normal
dividend


⩥ In what situation is a liquidation dividend paid? Answer: Paid when a
company is wound up


⩥ To whom is the liquidation dividend paid? Answer: Paid to registered
shareholders


⩥ What is the timing considerations for a liquidation dividend? Answer:
Can be paid as either interim or final liquidation payment


⩥ When is an Interim liquidation dividend paid Answer: Before the final
winding up of co