Reduce the annual dividend by 20 % a year for the next three years. After that, maintain a constant dividend of $1 a share. The company just paid $2.25 as the annual dividend per share. Do not pay dividends for the next two years and then pay a dividend of $0.90 at the end of year 3 for 2 year. Management predicts this option would then allow the dividends to grow at a rate of 7% forever. As a shareholder, if you require a return of 16% on your investment, which option would you prefer