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Is the dividend policy irrelevant for the value of a stock? If so, why is it the case that increases in dividend tend to be

  1. Is the dividend policy irrelevant for the value of a stock? If so, why is it the case that increases in dividend tend to be followed by increases in share prices?
  2. What are some of the pros and cons of a company paying high dividends?
  3. What in your view we still don't understand about dividend policy?
  4. What is a rights offering and what is the rights offering puzzle?

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