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Q.3 (a) Dividends are often described as "sticky". What might explain the sticky nature of dividends. Further, "An increase in dividends operates as a positive financial signal" Explain the statement giving some empirical evidence to support it. (2 marks) (CO-4) (b). Twinstar International Limited earned Rs. 12 per share out of which it paid Rs. 4 per share as dividends for the year ended on March 31, 2021.It is expected to earn Rs. 15 per share in the year ending March 31, 2022. The Board of Directors of the company have envisaged to pay 75% of the company's earnings as dividends in the foreseeable future and have an adjustment factor of 0.60. Given the empirical validity of the Linter's model, what should be the dividends for the year ending March 31, 2022. (3 marks) (CO-4) (c). Maxwell Enterprises Limited, a reputed and well-established manufacturer of stainless steel pipes and sheets. It has been earning on its investment in assets @ 20%, while its cost of equity is 15%. On a per share basis, the earnings were Rs. 5/-. What should be the optimal dividend pay-out as per the Walter's model. What would happen if the firm decided to pay 20% dividends? What would be Metti Online Assessment 2010-2021 Need Help? Contact us: +1 (800) (3 marks) (CO-4) (c). Maxwell Enterprises Limited, a reputed and well-established manufacture stainless steel pipes and sheets. It has been earning on its investment in asse 20%, while its cost of equity is 15%. On a per share basis, the earnings were R 5/-. What should be the optimal dividend pay-out as per the Walter's model What would happen if the firm decided to pay 20% dividends? What would be the price as per the Gordon model, if the firm pays out 40% of its earnings as dividends. (3 marks) (CO-4)