Question: Based on the information presented in Figures 1, 2, and 3, do you think that a change in the dividend policy will be necessary in

Based on the information presented in Figures 1, 2, and 3,

Based on the information presented in Figures 1, 2, and 3, do you think that a change in the dividend policy will be necessary in 2016? Regardless of your answer to question 1, assume that the firm has $30 million in funds that it is considering using for the repurchase of shares in the marketplace. The firm is currently trading at a low P/E ratio of 7 times 2015 earnings of $1.06 per share. The shares will be purchased in the open market and no premium will be paid over current price (as is sometimes the case). How many shares will be repurchased? (Round the final answer to the nearest whole number)

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