What are the different types of cash dividends? What are the mechanics of cash dividend payment? How should the price of a stock change when it goes ex dividend? How can an investor create a homemade dividend? Are dividends irrelevant? What are the tax benefits of low dividends? Why might some individual investors favor a high dividend payout? Why might some non-individual investors prefer a high dividend payout? How does the market react to unexpected dividend changes? What does this tell us about dividends? About dividend policy? What is a dividend clientele effect? Please briefly explain. Read the WSJ article carefully, and answer the following questions based on what you have learned about dividend policy, (link: http //www.wsj.com/articles/rolls-royce-may-cut- dividend-as-earnings-outlook-weakesn-1447312986) Outlook of RR: a. What is going on its Operating Cost? b. What is going on its CAPEX? c. What is going on its Fixed Cost? d. RR's market: How is it different from its competitors? What happened to its stock price before the dividend-cut announcement? How do you explain stock market reaction based on what you have learned from Chapter 17