Detail investor i høj kurs - Aktier, nemt eller svært? Quotes

“For the last hundred years, theorists have been discussing how stock prices should reflect dividends. A Nobel Prize was even awarded for the claim that dividends should be subtracted from the stock price. However, this interpretation is incorrect. A company with an EPS of $10 will, in theory, have a stock price of $10 if growth is zero. But if more than 50% of the EPS is paid out as dividends, the stock price would eventually become negative according to this logic. The proper way to price dividends is not to price them directly at all, but to let EPS determine the stock price. In this way, dividends are valued on a neutral basis. The investor would then get a cash return of $5 every year and another $5 compounding in stocks.”
― Mikkel Skipper, Detail investor i høj kurs - Aktier, nemt eller svært?