true or false . I GIVE THUMBS UP

2.

An example of the existence of an information content effect of dividends is when IBM's share price rises upon the announcement of unexpectedly high earning.

3.

Automatic dividend reinvestment plans help make corporate dividend policies irrelevant to individual stockholders.

4.

Having a high percentage of tax-exempt institutional stockholders is a factor that favor a high dividend policy.

6.

An investor in a relatively high personal income tax bracket would likely prefer a firm with a high dividend payout rate.

7.

An example of the existence of an information content effect of dividends is when GM's share price falls on the same day the firm announces a stock dividend.