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Which of the following is true of a dividend payout? A. When a firm announces that it will increase its dividend, the share price usually

Which of the following is true of a dividend payout? A. When a firm announces that it will increase its dividend, the share price usually decreases on that news. B. Dividend payments send a positive signal to investors in the marketplace that management believes that the stock is overvalued. C. When a firm pays out dividends the share price will fall. D. Dividend payouts have no impact on the share price of a stock in an efficient market.

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