Building Society’s Dividend. The following table shows the market share price for a British building society. Since its launch in September 2004, the management intends to pay a fixed annual dividend of GBP 0.50 per share. How would this constant dividend per year have changed the building society’s return to its shareholders over this period?

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Date Share Price Sep-04 GBP 200 Sep-05 GBP 205 Sep-06 GBP 216 Sep-07 GBP 196 Sep-08 GBP 150 Sep-09 GBP 193