Moving to another question will save this response. Question 13 Which one of these is a characteristic of a sensible payout policy? Set the dividends high even if it means acquiring expensive external financing Set the current regular dividends consistent with a 100 percent payout ratio Increase regular dividends to distribute transitory cash flow increases Do not reject positive NPV jects for the purpose of increasing cash dividends or buying back shares. Question 13 of 18 2 points Save