ai)The management of a listed company is considering to buy back some of its outstanding shares for cancellation in the current low interest rate environment.

Required: Explain the possible implications of such a share buy-back on the earnings per share and the share price of the company.

aii)

The Amber Group declared a dividend of $2 per share on 28 February 2021 with a record date of 30 March 2021 and payment date of 15 May 2021. Edward Chan purchased 30,000 shares of the Amber Group on 20 April 2021.

Required: What divided payment, if any, will Edward Chan receive on 15 May 2021 and explain why?