Question: 1. Explain what a dividend's declaration date, date of record, and ex-dividend date are.
2. What are the advantages of a stock split or dividend over a cash dividend?
3 Why would a firm repurchase its own stock?
4. (Dividend payout ratio) Phosphorus Technologies earned €3 million in net income last year and for the first time ever paid its common stockholders a cash dividend of €1.12 per share. The firm has 1 million shares outstanding. What was Phosphorus Technologies' dividend payout ratio?