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QUESTION
A sensible payout policy A. sets dividends at a level just equal to the amount of new equity that can be raised annually. sets dividends based on net...
- A. sets dividends at a level just equal to the amount of new equity that can be raised annually.
- B. sets dividends based on net income, not cash flows.
- C. consistently varies its target payout ratio on an annual basis.
- D. pays out all free cash flows over time.
- E. cuts positive NPV investments, if needed, to steadily increase its dividend.
