6. One implication of the bird-in-the-hand theory of dividends is that a reduction in dividend yield must be offset by a more than in order to keep stockholder's return constant, other held constant a. True b. False A gecrease in fis willingness to pay dividends is likely to result from an a. Earnings b. Access to capital markets. c. Profitable investment opportunities. d. Collection of accounts receivable e. Stock price. 8. Chandler Communications' CFO has provided the following information The company's capital budget is expected to be $5,000,000 . . The company's target capital structure is 70 percent debt and 30 nt equity The company's net income is $4,500,000. If the company follows a residual dividend policy, what portion of its net income should it pay out as dividends this year? a. 33.33% b. 40.00% C. 50.00% d. 60.00% e. 66.67% f none of the above 9. Albany Motors recently completed a 3-for-1 stock split. Prior to the split, the company had 10 million shares outstanding and its stock price was $150 per share. After the split, the total market value of the company's stock equaled $1.5 billion. What was the price of the company's stock following the stock split? a. $15 b. $45 c. $50 d. $150 e. $450 None of the above f