Dividend valuation model

Majority shareholdings are in a position to determine the level of dividend (and hence the dividend growth rate). Minority shareholdings have to accept the current policy.

Hi all, Wish to verify the following...:- (a) For the dividend element (D1) should we take the dividend paid or declared, or both...? (b) For the cum div share price, should we minus out dividend paid or declared, or both...? Thanx...~

D1 is the dividend in one years time (Do x (1+g)) The cum div MV is the ex div MV + the dividend about to be paid.