Seminar paper from the year 2015 in the subject Business economics - Investment and Finance, grade: 85%, University of South Wales, language: English, abstract: The working paper aims to critically discuss Tesco's primary and secondary objectives. Moreover, the development of Tesco's gearing policy and the impact on financial figures is analysed. In a next step, literature on dividend policies is reviewed and applied to Tesco. In a last step, the capital structure policy of Tesco in respect to the pecking order and trade of theory is assessed.