Topics to be Discussed -The irrelevance of Dividend Policies in a world of perfect capital markets Dividend Policy in a real world Dividend Stability ■ Stock Repurchase ■ Stock Dividends and Stock Splits Summary slide 3slide 3 Topics to be Discussed Topics to be Discussed ƒ The irrelevance of Dividend Policies in a world of perfect capital markets ƒ Dividend Policy in a real world ƒ Dividend Stability ƒ Stock Repurchase ƒ Stock Dividends and Stock Splits ƒ Summary