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Level 22
· ◆◆◆ · ~11 min
Payout Policy: Dividends vs Repurchases
Payout Policy: Dividends vs Repurchases
"The firm has cash — now what? The two ways to hand it back to shareholders, and why, mechanically, they're closer to identical than they look."
dividends & buybacksthe ex-dividend price drophow repurchases workdividend-buyback equivalence
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.