When a firm pays a dividend only when it has leftover earnings after financing all of its capital budgeting projects, it is following the dividend policy a residual b constant payout ratio c industry standard d reinvestment e internal

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When a firm pays a dividend only when it has leftover earnings after financing all of its capital budgeting projects, it is following the _________

When a firm pays a dividend only when it has "leftover" earnings after financing all of its capital budgeting projects, it is following the _________ dividend policy.

a. residual

b. constant payout ratio

c. industry standard

d. reinvestment

e. internal

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