Sydney Stock Exchange Equity Returns. The Australian equity market has delivered very different returns over the past 90 years. Use the data from the table below, arranged by decade to answer the following questions about these Australian equity investment returns.

a. Which period shown had the highest total returns? The lowest?

b. Which decade had the highest dividend returns?
When were dividends clearly not a priority for publicly traded companies?

c. The 1980s was a boom period for Australian equity returns. How did firms react in terms of their dividend distributions?

d. How has the 2000s period fared? How do you think publicly traded companies have started changing their dividend distribution habits as a result?

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S&P 500 Equity Returns, 1930-2020 (average annual return, percent) Period 1930s 1940s 1950s 1960s 1970s 1980s 1990s 2000s 1930 to 2019 Capital -9.2% 8.0% 8.4% 7.2% 5.0% 20.3% 15.3% -5.5% 5.7% appreciation Dividend yield 5.1% 3.0% 2.5% 2.0% 2.2% 2.0% 1.5% 1.7% 3.5% Total return -4.1% 11.0% 10.9% 9.2% 7.2% 22.3% 16.8% -3.8% 9.2%