Skywire Data Inc. has been in business for over thirty years and has never paid a dividend

Question:

Skywire Data Inc. has been in business for over thirty years and has never paid a until this year, even though it has been one of the most successful tech companies ever. Skywire's share price has increased one hundred-fold since its IPO. However, as it matured, its growth slowed somewhat and this year the company decided to declare its first ever semi-annual of $0.10 per share. The share price promptly declined for three days after the announcement.
Required:
How would you explain this phenomenon of instituting a only to see your share price decline to a manager in your company who is campaigning to raise the at your firm?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...