Hi Class,
For this assignment I chose Hershey (HSY). This company is one that I grew up around in my small town of Oakdale, California and figured it would be perfect for this assignment.
Market Information & Dividend Policy
The Board of Directors for Hershey paid the following dividends in the following years listed below:
Dividends Paid Per Share
Common Stock Price Range* High Lor
Class B Stock
2010 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total
s
.3200 .3200 .3200 .3200 1.2800
.2900 .2900 .2900 .2900 1.1600
s
43.58 52.10 51.67 51.75
35.76 42.79 45.31 45.66
Dividends Paid
Common Stock Pric Range
Shar
Common Stock
Class B Stock
High 2678 5 38.23 2678 37.83 2678 42.25 2678 41.62 1.0712
Lor
2009 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total
S
.2975 .2975 .2975 2975 1.1900
S
30.27 33.70 35.78 35.05
S
Hershey dividend policy was not blatantly outlined for me to view and although I reached out to them I
Exchange under HSY with approximately 425.1 million shares as of 2010. I believe that the company has chosen to have a dividends policy to allow its employees an additional benefit of ownership. I do not see any sign of the dividends being stopped. Future decisions to pay dividends will continue to be at the discretion of the Board of Directors and will be dependent on performance, financial condition, and other factors that the Board of Directors considers relevant.
Per the most recent annual report, Hershey is showing $1.91 million in long-term debt. With that amount of debt, I do not see those liabilities getting to out of hand where the debt could not be paid off.
The Controller is accountable for ensuring that all of Hershey's shareholders equity is managed properly and through the proper accounting procedures. They would be making the necessary planning strategies in order to solidify new source funding, as well as ensuring that he/she is directing the financial reporting of the company.
References:
https://app-avention-com.ezproxy.snhu.edu/company/56a0654e-3071-30d5-9294- e9146629c315#report/company_financial_health
Bragg, S. M. (2011). The controller's function: The work of the managerial accountant (4th ed.). Hoboken, NJ: John Wiley & Sons, Inc
https://www.thehersheycompany.com/en_us/home.