Surveying the impact of Life Cycle and Free Cash Flow on Policy and yield

This study examines the impact of Life Cycle and Free Cash Flow on Policy and yield of Dividend listed companies in Tehran Stock Exchange over the period 2008-2012.The population of this research firms listed in Tehran Stock Exchange is were the systematic selection of 132 companies selected. The results show that not effect free cash flow on dividend payout ratio and return. In addition to the life cycle returns Dividend payout ratio Dividend shares that have a positive effect on the life-cycle hypothesis and follow the life cycle and free. the findings from this paper provide much support for the free cash flow and life-cycle hypotheses.