Sector-wise dividend payment by all listed companies in Dhaka stock exchange : an empirical analysis

Purpose: The purpose of this article is to examine the sectorwise dividend payment of all the listed companies in the Dhaka Stock Exchange (DSE). This paper also indicates the highest and lowest percentage of dividend paid by companies in each sector, as well as illustrates the reason for distributing such amount of dividend. Design/methodology/approach: The empirical analysis was done by using the last fifteen years (i.e., 2004-2018) of dividend payment by all listed firms in DSE. Data was collected from the secondary sources to perform the analysis. On collected data, average dividend amount was calculated for each listed company by adding the percentage of cash and stock dividend paid by those companies. Trend analysis was performed on the average dividend to see which company among all listed companies is distributing a high or low percentage of dividend to their shareholders' over the years. Findings: The results from this article show that companies in the declining industry fail to meet their shareholders’ expectations in terms of dividend payment. On the other hand, companies in booming industries are consistently disbursing dividend for their shareholders’. Besides, companies are in the growth stage, and the multinational companies are distributing a considerable percentage of dividend. Practical implications: The results of this article will be helpful for the fund managers’, investment analysts’ and investors’ who makes decisions to invest in the capital market because the paper presented the historical average dividend payment by listed companies. Originality/value: This article presents the average dividend payment by companies listed in stock exchange in an emerging economy, also finds out sector-wise dividend payment and suggests some remedial for companies.peer-reviewe

Effect of Pressure on the Activity Coefficients of Au and Other Siderophile Elements in Liquid Fe-Si Alloys

Light elements can alloy into the iron cores of terrestrial planetary bodies. It is estimated that the Earths core contains ~10% of a light element, most likely a combination of S, C, Si, and O with Si probably being the most abundant. Si dissolved into Fe metal liquids can have a significant influence on the activity coefficients of siderophile elements, and thus the partitioning behavior of those elements between the core and mantle. Many of these elements have been investigated extensively at ambient pressure, and studies up to 1 GPa are becoming more common, but few have been studied at pressures above this. The formation of the Earths core has been estimated to have formed at pressures between 40-60 GPa, so investigating the effect pressure has on Sis influence on siderophile element partitioning is important for modeling core formation in the Earth and smaller planets. Pressure is well known to influence volumetric properties of metallic and silicate liquids, and oxygen fugacity (e.g., [10,11]), but less is known about its effect on activity coefficients (e.g., [12]). Some activity coefficients depend strongly upon the Si content of Fe liquids, and the concentration of siderophile elements such as P, Sb, and As in the terrestrial mantle is easily influenced by dissolved Si in the core. Thus, isolating the effect of pressure on activity coefficients in general is critical in quantitative analysis of core formation models. In this work, we investigate the effect variable Si content has on the partitioning of Au between Fe metal and silicate melt at 10 GPa and 2373 K, with the intention of comparing the behavior to that already investigated at lower pressures. In addition, P, V, Mn, Ga, Zn, Cd, Sn, W, Pb, and Nb were also measured and could thus be included in the assessment of potential pressure effects

Thermal Constraints from Siderophile Trace Elements in Acapulcoite-Lodranite Metals

A fundamental process in the formation of differentiated bodies is the segregation of metal-sulfide and silicate phases, leading to the formation of a metallic core. The only known direct record of this process is preserved in some primitive achondrites, such as the acapulcoite-lodranites. Meteorites of this clan are the products of thermal metamorphism of a chondritic parent. Most acapulcoites have experienced significant partial melting of the metal-sulfide system but not of silicates, while lodranites have experienced partial melting and melt extraction of both. The clan has experienced a continuum of temperatures relevant to the onset of metal mobility in asteroidal bodies and thus could yield insight into the earliest stages of core formation. Acapulcoite GRA 98028 contains relict chondrules, high modal sulfide/metal, has the lowest 2-pyroxene closure temperature, and represents the least metamorphosed state of the parent body among the samples examined. Comparison of the metal-sulfide component of other clan members to GRA 98028 can give an idea of the effects of metamorphism

Apatite/Melt Partitioning Experiments Reveal Redox Sensitivity to Cr, V, Mn, Ni, Eu, W, Th, and U

Apatite is a common mineral in terrestrial, planetary, and asteroidal materials. It is commonly used for geochronology (U-Pb), sensing volatiles (H, F, Cl, S), and can concentrate rare earth elements (REE) during magmatic fractionation and in general. Some recent studies have shown that some kinds of phosphate may fractionate Hf and W and that Mn may be redox sensitive. Experimental studies have focused on REE and other lithophile elements and at simplified or not specified oxygen fugacities. There is a dearth of partitioning data for chalcophile, siderophile and other elements between apatite and melt. Here we carry out several experiments at variable fO2 to study the partitioning of a broad range of trace elements. We compare to existing data and then focus on several elements that exhibit redox dependent partitioning behavior

Chalcophile Element Constraints on the Sulfur Content of the Martian Mantle

The sulfur content of the Martian mantle is critical to understanding volcanic volatiles supplied to the surface of Mars and possibly climate. In the absence of Martian mantle rocks, sulfur content of the mantle has been inferred from S contents of Martian meteorites or from sedimentary sulfate abundances. Estimates of the sulfur content of the Martian mantle vary from 390-2,000 ppm, all of which are higher than that of the terrestrial mantle (~250 ppm;). Residual sulfide in the Martian mantle controls the distribution of chalcophile elements during partial melting. In this study, we report new analyses of Martian meteorites, and use the incompatible behavior of As, Tl and Pb to infer the sulfide mode of the Martian mantle using a different set of assumptions than those of prior studies

Removal and Replacement of Primary Metal in Ferroan Lodranite MAC 88177

Collectively, acapulcoites and lodranites form a clan of primitive achondrites generally thought to have originated from the same parent body on the basis of similarities in petrology, mineral compositions, bulk compositions, cosmic ray exposure ages and oxygen isotope compositions, although considerable variation in some of these parameters has shown that the parent body was not entirely uniform. The presence of relict chondrules in several acapulcoites indicates that all were likely derived from chondrite-like precursor materials. The transition from acapulcoite to lodranite is gradual and corresponds to increasing metamorphic grade. Lodranites are generally coarser grained, but petrographic distinction between the two groups can also be made by modal abundances of troilite and plagioclase. Depletion of both these phases and incompatible lithophile trace elements in lodranites is consistent with their restitic origin formed by greater than 10% extraction of basaltic melt. Magnesian lodranites (e.g. Gibson, GRA 95209, Y-75274, Y-8002), some of which might also be considered transitional acapulcoites, have mineral and chemical compositions consistent with derivation by thermal metamorphism and partial melt extraction from acapulcoites, as would seem logical if samples represented different grades of metamorphism along a linear evolution trend. Ferromagnesian silicates in these lodranites tend to be displaced toward lower fe# (opx fe# 4-6) than the distribution observed in acapulcoites (opx fe# 6-11). A subset of lodranites, termed ferroan lodranites (e.g. FRO 90011, LEW 88280, Lodran, MAC 88177, Y-74357, Y- 791491/Y-791493), have ferromagnesian silicate minerals that are too Fe-rich (fe#>10) to have formed as simple restites from any known acapulcoite. Like silicates, metal-sulfide systematics of the ferroan lodranites are also inconsistent with a simple restitic origin. Logically, restitic lodranites should have been depleted in FeS during extraction of partial melts, since melting of the metal-sulfide system initiates at lower temperatures than melting of silicates. Yet, puzzingly, ferroan lodranites contain significant quantities (1.9-5.3 modal%) of troilite, indicating either (1) metal sulfide partial melts were retained during basaltic melt extraction or (2) later infusion of metal sulfide melts has occurred. In this study, we use trace siderophile elements in metals to assess the relative importance of each in creating the observed troilite enrichment

Phase Ordering Dynamics of ϕ4\phi^4 Theory with Hamiltonian Equations of Motion

Phase ordering dynamics of the (2+1)- and (3+1)-dimensional $\phi^4$ theory with Hamiltonian equations of motion is investigated numerically. Dynamic scaling is confirmed. The dynamic exponent $z$ is different from that of the Ising model with dynamics of model A, while the exponent $\lambda$ is the same.Comment: to appear in Int. J. Mod. Phys.

History of Metal Veins in Acapulcoite-Lodranite Clan Meteorite GRA 95209

Graves Nunataks (GRA) 95209 has been hailed as the missing link of core formation processes in the acapulcoitelodranite parent asteroid because of the presence of a complex cm-scale metal vein network. Because the apparent liquid temperature of the metal vein (approximately 1500 C) is higher than inferred for the metamorphic grade of the meteorite, questions regarding the vein s original composition, temperature, and mechanism of emplacement have arisen. We have determined trace siderophile element compositions of metals in veins and surrounding matrix in an effort to clarify matters. We analyzed metals in GRA 95209 in a portion of thick metal vein and adjacent metal-rich (30-40 modal%), sulfide poor (less than 1%) matrix by EPMA and LA-ICP-MS for major and trace siderophile elements using methods described by [3]. We also examined metals from a metal-poor (approximately 15 modal%) and relatively sulfide-rich (2-5 modal%) region of the sample. Kamacite is the dominant metal phase in all portions of the sample. In comparison to matrix metal, vein metal contains more schreibersite and less tetrataenite, and is less commonly associated with Fe,Mn,Mg-bearing phosphates and graphite. Vein kamacite contains higher Co, P, and Cr and lower Cu and Ge. These minor variations aside, all metal types in GRA 95209 are fairly homogeneous in terms of their levels of enrichment of compatible siderophile elements (e.g. Pt, Ir, Os) relative to incompatible siderophile elements (e.g. As, Pd, Au), consistent with the loss of metal-sulfide partial melt that characterizes much of the clan. Whatever compositional differences between matrix and vein metal that may have originally existed, they have since largely co-equilibrated to similar restitic trace element compositions. We agree with [2] that metal veins, in their present state, do not represent a liquid composition. The original vein liquid was much more S-rich and emplaced at correspondingly lower liquid temperatures. Much of the Fe,Ni component solidified in cm scale conduits while S-rich melts were expelled and continued to migrate by percolation. The higher troilite content in metal poor regions of the sample results mostly from trapping of a small portion of these melts. The troilite is not remnant primary sulfide. Strong depletions of W, Mo, and especially Ga (greater than 50%, greater than 60%, and greater than 90% depletion, respectively) in metals of the metalpoor GRA 95209 lithology are localized at scales of 10-100 micrometers in the vicinity of graphite spherules. These depletions must have occurred below the temperatures at which cm-scale equilibration occurred, and future work will seek to determine their cause