Question: or a firm to develop a sensible dividend policy, which of the following should be considered: A . Avoid cutting positive NPV projects to pay

or a firm to develop a sensible dividend policy, which of the following should be considered:
A. Avoid cutting positive NPV projects to pay dividends.
B. Stock should always be issued to pay dividends.
C. Repurchases with surplus cash should be considered if no positive NPV projects exist.
D. Firms should always strive to issue dividends in order to keep their shareholders happy.
E. Both A and C.

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