Business, 19.12.2019 05:31 alejandro8212003

Which of the following are not legitimate constraints on the dividends a firm will pay to shareholders?
a. dividends may be constrained by the amount of cash a firm has.
b. bondholders may have covenants limiting the amount of the dividend.
c. dividends must not eat into legal capital.
d. all are legitimate constraints on the dividends that firms choose to pay to shareholders.

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