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Of the following factors, which one is considered to be the primary factor affecting a firm's dividend payout decision? A) Maintaining a consistent dividend policy

Of the following factors, which one is considered to be the primary factor affecting a firm's dividend payout decision?

A) Maintaining a consistent dividend policy

B)Considering the personal taxes of company stockholders

C) Avoiding flotation costs

D) Attracting retail investors

E) Attracting institutional investors

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