Ashland Inc. is an oil services and diversified chemical company that is located in Covington, Kentucky. In 2002 Ashland Inc. was paying an annual dividend of $1.10 per share and was planning to keep its dividend payout steady. However, the firm’s chairman, Paul Chellgren, noted that he was receiving more inquiries about its dividend policy from investors than at any time in his 28 years with the firm. He also noted that during the bull market of the 1990s, investors had asked him why the firm did not eliminate its dividend, since it was no longer important. Discuss Ashland’s experience with investor communications in the context of the chapter text.