5. Common Stock (LO2, CFA3) A corporation with common stock issued to the public pays dividends:

a. At the discretion of management, who are elected by the shareholders.

b. At the discretion of shareholders, since they own the corporation.

c. At the discretion of the company’s board of directors, who are elected by shareholders.

d. At the discretion of the company’s board of directors, who are appointed by management.