Dividend Predictability Around the World

Jesper Rangvid, Maik Schmeling, Andreas Schrimpf

Research output: Working paperResearch


We show that dividend growth predictability by the dividend yield is the rule rather than the exception in global equity markets. Dividend predictability is weaker, however, in large and developed markets where dividends are smoothed more, the typical firm is large, and volatility is lower. Our findings suggest that the apparent lack of dividend predictability in the U.S. does not uniformly extend to other countries. Rather, cross-country patterns in dividend predictability are driven by differences in firm characteristics and the extent to which dividends are smoothed.
Original languageEnglish
Place of Publicationwww
PublisherSSRN: Social Science Research Network
Number of pages42
Publication statusPublished - 2 Oct 2012
SeriesCreates Research Paper


  • Dividend Yield
  • Predictsbility
  • International Stock Markets
  • Value
  • Growth
  • Idiosyncratic Volability

Cite this