How should a firm determine its dividend distribution policy? Discuss three di

How should a firm determine its dividend distribution policy? Discuss three different viewpoints (management stockholders and
lenders).

Note:Investors buy shares in a company to reap a gain on their investment. The gain can be realized in a number of
different ways including through stock price appreciation receipt of a dividend or through the firm buying back their share (at a higher price than what they
bought it for). Company managers and its board of directors will determine which of these is the best method based on a number of factors. In your response try
and keep these high-level thoughts in mind.