Would a company paying nearly 100 of its free cash flow


Would a company paying nearly 100% of its Free Cash Flow towards cash distributions (instead of retaining earnings) have any bearing on the likelihood of splitting their stock? That is, if a company uses 100% of its FCF for dividends, would it make it more likely that the company woud split their stock (perhaps from an increase in stock price, create a stock price outside the optimal range)?

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Financial Management: Would a company paying nearly 100 of its free cash flow
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