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Which of the following is not consistent with the life cycle theory of a dividend policy? In the growth stage, a company could pay a

Which of the following is not consistent with the life cycle theory of a dividend policy?

In the growth stage, a company could pay a low dividend

In the maturing stage, a company should pay dividends

In the infancy stage, a company should pay dividends

In the declining stage, a company should pay dividends

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