This paper examines whether life-cycle theory or signal theory can explain the relationship between growth and cash dividend omissions using listed companies in Taiwan from 2001 to 2014. Based on life-cycle theory, we predict that the probability of omission should be positively related to firm's growth. On the contrast, in signal theory, the relationship between growth and the probability of omission is negative. We find that the life-cycle theory cannot explain the influence of growth on cash dividend omissions in Taiwan. Our empirical results support the signal theory. The company with growth will avoid stopping pay dividends in order not to launch a negative signal to the market.