Australian companies typically announce profit figures and dividend payouts at the same time. During the 60's and early 70's, profit and dividend changes were positively correlated, and were associated with significant share price changes, after abstracting from market effects. When profit and dividend reports gave conflicting signals, share prices tended to decline.
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2.
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9.
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10.
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11.
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12.
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13.
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14.
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15.
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16.
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18.
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19.
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20.
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