The publically-traded firm that you work for has had a particularly good year ending with a substantial increase over the firm's usual level of free cash flow. However, the firm does not have an abundance of good projects to invest in currently. You have been invited to the Board of Directors meeting to give a recommendation about how the firm should proceed with its payout policy. Take a stance on how the firm might pay out this extra cash. Assume the firm has historically paid a dividend that has averaged 10% of earnings. Be sure to include discussion of why the Board's opinion of the current stock price might matter.