高送(song)(song)轉(zhuan)(zhuan)(zhuan)(zhuan)不(bu)(bu)等于(yu)高分(fen)紅，更不(bu)(bu)等于(yu)高回報(bao)。上市(shi)(shi)公(gong)司(si)利潤(run)分(fen)配(pei)包括(kuo)現(xian)(xian)(xian)金(jin)分(fen)紅與(yu)送(song)(song)股(gu)(gu)兩種形式。現(xian)(xian)(xian)金(jin)分(fen)紅需(xu)要(yao)上市(shi)(shi)公(gong)司(si)支付(fu)貨(huo)真價(jia)實(shi)的(de)(de)現(xian)(xian)(xian)金(jin)，這也是上市(shi)(shi)公(gong)司(si)給予投(tou)(tou)資者的(de)(de)真實(shi)回報(bao)。而送(song)(song)股(gu)(gu)則(ze)(ze)不(bu)(bu)用(yong)(yong)上市(shi)(shi)公(gong)司(si)掏一(yi)(yi)(yi)分(fen)錢，只需(xu)要(yao)在賬(zhang)務上做做處理(li)就可以了。通過送(song)(song)股(gu)(gu)，雖(sui)然投(tou)(tou)資者的(de)(de)股(gu)(gu)票多了，但價(jia)格除權后，投(tou)(tou)資者的(de)(de)股(gu)(gu)票市(shi)(shi)值不(bu)(bu)變，只是帶給了投(tou)(tou)資者一(yi)(yi)(yi)個投(tou)(tou)機炒作(zuo)的(de)(de)空間。而轉(zhuan)(zhuan)(zhuan)(zhuan)股(gu)(gu)與(yu)送(song)(song)股(gu)(gu)相類似，但它并不(bu)(bu)屬于(yu)利潤(run)分(fen)配(pei)范疇。送(song)(song)股(gu)(gu)需(xu)要(yao)有可分(fen)配(pei)利潤(run)才行，而轉(zhuan)(zhuan)(zhuan)(zhuan)增(zeng)股(gu)(gu)則(ze)(ze)是從資本(ben)公(gong)積(ji)金(jin)中(zhong)列支。因(yin)此，轉(zhuan)(zhuan)(zhuan)(zhuan)股(gu)(gu)純(chun)粹屬于(yu)上市(shi)(shi)公(gong)司(si)股(gu)(gu)本(ben)擴張行為(wei)，與(yu)利潤(run)分(fen)配(pei)無關(guan)。鑒于(yu)轉(zhuan)(zhuan)(zhuan)(zhuan)股(gu)(gu)與(yu)送(song)(song)股(gu)(gu)對于(yu)投(tou)(tou)資者來說作(zuo)用(yong)(yong)一(yi)(yi)(yi)樣，因(yin)此，人們通常又把(ba)送(song)(song)股(gu)(gu)與(yu)轉(zhuan)(zhuan)(zhuan)(zhuan)股(gu)(gu)合稱為(wei)“送(song)(song)轉(zhuan)(zhuan)(zhuan)(zhuan)股(gu)(gu)”。可見，將高送(song)(song)轉(zhuan)(zhuan)(zhuan)(zhuan)與(yu)高分(fen)紅、高回報(bao)混為(wei)一(yi)(yi)(yi)談是完全錯誤的(de)(de)。
