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IBM is currently valued at $106.34 and its current dividend yield is 6%. Due to challenging business environment, it is thinking of reducing its dividend

IBM is currently valued at $106.34 and its current dividend yield is 6%. Due to challenging business environment, it is thinking of reducing its dividend payout starting next quarter. If everything else including its cost of equity and long growth rate remains same, which one of the following is the most probable scenario?

IBMs market value will remain same

IBMs market value will decrease

Difficult to comment from the given information

IBMs market value will increase

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