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1. Explain the different types of cash dividend that might be paid by a firm and set out the chronology of dividend payments. Explain the
1.
- Explain the different types of cash dividend that might be paid by a firm and set out the chronology of dividend payments.
- Explain the theory of dividend irrelevance as proposed by Modigliani and Miller and analyse why, in reality, this theory may not hold.
c. Explain the nature of a share repurchase and critically discuss why the firm might want to undertake a programme of buying back its own shares.
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