SEASONED EQUITY OFFERINGS VS. DIVIDEND POLICY-AN ANALYSIS OF THE LISTED COMPANIES ON BUCHAREST STOCK EXCHANGE

The funding of a listed company by issuing new shares and the distribution of financial results through dividends are two controversial phenomena. The main objective of the research is to analyse the relation between them or to see if they behave as a single phenomena. We studied the behavior of Bucharest Stock Exchange firms, between 2006 and 2010, taking into consideration the international financial crisis. The method considered to meet the data and the objective was the principal components analysis. Although we did not obtained a significant correlation between dividends and subsequent equity offerings, results still proved to be interesting.