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Company X has been in operation for 7 years and a public company for 5 years. They have yet to offer a dividend to their

Company X has been in operation for 7 years and a public company for 5 years. They have yet to offer a dividend to their shareholders. What are some possible reasons they havent offered a dividend yet? If they do decide to offer a dividend, what positive and negative impact might this have on the company?

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