All paper and pulp



Aracruz has a dividend yield and payout ratio similar to that of other Latin American paper and pulp companies, though it is higher than dividends paid out by paper companies listed elsewhere.

With all three companies, the dangers of basing dividend policy based upon comparable firms are clear. The "right' amount to pay in dividends will depend heavily upon what we define "comparable' to be. If managers are allowed to pick their peer group, it is easy to justify even the most irrational dividend policy,

Lessons From The Intelligent Investor

Lessons From The Intelligent Investor

If you're like a lot of people watching the recession unfold, you have likely started to look at your finances under a microscope. Perhaps you have started saving the annual savings rate by people has started to recover a bit.

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