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Which of the following statements is correct? 1) Dividends are not viewed by shareholders as a signal of a firms future outlook 2) Share repurchases

Which of the following statements is correct?

1) Dividends are not viewed by shareholders as a signal of a firms future outlook
2) Share repurchases tend to increase agency costs
3) Maintaining a steady dividend is a key goal of most dividend paying firms.
4) Firms prefer to cut dividend payments rather than borrow money to fund a short-term cash need.

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