The Effect of Fluctuations Divided Payout Ratio on Return on Owners equity

One of the serious problems which managers of enterprise have faced with is recognition and explanation of divided distribution determiner elements. Having a good knowledge from this elements show not only the solvency of the company but also can predicate some of the future behavior of the company this knowledge also can in flounce on financial long-range planning and divided distribution payment to stock holders on this base, Different theories are presented by the financial researchers that some of them are bellows:1)Non relative divided distribution theory between return on owner’s equity and the value of the firm. Such as Miller and Modgiliani.
2)The theory of relation between divided distribution and return on owner’s equity and the value of the firm. Such as Gordon model, Walter model.
In this study in addition to information of foreign Researches, we were interested to Tehran stock market exchange. At first the hypothesis of research and then the variables which are related to this data are mentioned. in addition , the necessary information is collected for 86 company which are concern with this research by software parcels in the market and the date Tehran stock market exchange during the period of 8 years from 2000 to 2008 for the analysis the date , however some statistical approaches and used on the base regression with SPSS soft ware. The result of this research in dictates that there is a direct relation between dividend payout fluctuations and return on owners’ equity.