1. You are to critically evaluate the literature on Dividends and Dividend Policy and using examples from the financial press, assess the impact of the Covid-19 pandemic on the dividend decision of companies throughout the different phases of the pandemic. You are to reach a conclusion as to whether dividend policy has a substantive impact in the creation or destruction of shareholder wealth.

2. You are to come to conclusion, supported by the academic literature, as to the ability of managers to value companies in the context of the global Covid-19 pandemic and to create shareholder value by engaging in merger and acquisition activity. You should make reference to current examples of merger and acquisition activity from the financial press.