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Explain in detail how each of the following factors are involved in formulating dividend policies: 1.1 Legal constraints (5 marks) 1.2 Contractual constraints (2 marks)

Explain in detail how each of the following factors are involved in formulating dividend policies: 1.1 Legal constraints (5 marks)

1.2 Contractual constraints (2 marks)

1.3 Internal constraints (3 marks)

1.4 The firms growth prospects (4 marks)

1.5 Owner considerations (7 marks)

1.6 Market considerations

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