Agent Skills: payout-policy-analysis

Assesses whether a company returns the right amount of cash to shareholders. Computes FCFE over a history under three debt assumptions, compares it against dividends plus buybacks to give the cash surplus or deficit, places the firm in the dividend matrix of affordability against project quality, projects forward FCFE and buyback capacity, and benchmarks payout ratio and dividend yield against peers and the market. Handles bank FCFE from regulatory capital. Use for dividend policy, payout ratio, dividend yield, potential dividends, FCFE, cash returned, buybacks, share repurchase capacity, excess cash, dividend cut or increase, cash accumulator or overpayer, or the dividend matrix.