Discuss the pros and cons of having the directors formally announce what a firms dividend policy will

Question:

Discuss the pros and cons of having the directors formally announce what a firm’s policy will be in the future.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...