Cash flow to stockholders is a measure of how much cash a company is paying out to stockholders from its revenue. Normally, the cash paid out to stockholders is in the form of dividends. However, you can calculate what the cash flow is to stockholders minus dividends by using a formula. This tells you how dividends affects your cash flow.
Use 0 as the dividends paid if you want to calculate cash flow to stockholders without the dividends paid.
Subtract the beginning value of common stock shares from the ending value. Subtract this from zero.
Subtract the beginning capital surplus from the ending capital surplus. Subtract the total from the Step 2 total.
Subtract the beginning value of treasury stock from the ending value. Add this total to your Step 3 total. This is the cash flow to stockholders without dividends paid.