Cisco Systems boasts extensive cash holdings, an attractive dividend, and solid financial performance. Yet the market seems relatively unimpressed. Why?
Wal-Mart is one of the largest companies in the world, with a sterling track-record of profits and dividends. So why did its stock fall sharply in 2015?
In this summary, we examine Chapter 19 of Benjamin Graham’s ‘The Intelligent Investor’, which concerns corporate governance and the payment of dividends.