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Unformatted text preview: opportunities). If only $ 400,000 of earnings were available, the residual policy would call for a zero payment. C. C. (Continued) (Continued) The residual model would result in dividend payments which fluctuate significantly from year to year as capital requirements and internal cash-flows fluctuate. ➔ Signaling and clientele effects...
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- Spring '09
- Dividend, Payment, Dividend yield, Stock and flow