DIVIDEND POLICY IN THE BRAZILIAN MEAT INDUSTRY: INFLUENCE OF NON-OPERATING INCOME

Resumo

Objective: the aim of this study is to demonstrate that companies in the animal protein sector have non-operating profit different from other sectors and that non-operating profit is correlated with the payment of dividends (payout). Methodology: data were collected from publicly traded companies listed on B3 between 2017 and 2020, using statistical tools such as Student's t test and ordinary least squares. Results: no evidence was found to show differences between the animal protein sector and other sectors in terms of non-operating profit, nor was an association between dividend distribution and non-operating profit found. The intra-sector analysis, however, showed that companies in the animal protein sector with a high ratio of non-operating profit to gross profit led to a fall in share price. Theoretical/methodological contributions: the use of the two statistical techniques proved to be complementary in the data analysis.