Breamish plc (Breamish) has maintained growth in dividends per share of 5% per year for the past nine years. This was deemed to be a sustainable regular dividend. However, the company has developed a new product which requires significant investment in the next 12 months. The amount needed is roughly equivalent to the proposed dividend for this year. The project will not give a positive net cash flow for approximately 3 years, but will produce a positive NPV overall. Required: Critically discuss the arguments for and against a dividend cut by Breamish this year. (10 marks)