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20) Firms following a constant payout ratio dividend policy a. b. c. d. e. will have a stable dividend payment when earnings fluctuate will have
20) Firms following a constant payout ratio dividend policy a. b. c. d. e. will have a stable dividend payment when earnings fluctuate will have a fluctuating dividend policy when earnings are stable. will have a higher cost of equity when earnings are stable compared to other similar firms. will have a lower cost of equity when earnings are stable compared to other similar firms. will have a fluctuating dividend payment when earnings fluctuate
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