How might this dividend policy function in both perfect and imperfect capital markets?

s discuss the dividend policy of PUM Show more; Using the annual report and other sources such as a 10k or 10qs discuss the dividend policy of PUMA. Answer the following questions as part of your response: 1) How would you describe Pumas dividend policy? 2) Why do you believe Puma chose the dividend policy they have in place? 3) Do you agree or disagree that they have selected the best dividend policy for the company? 4) How might this dividend policy function in both perfect and imperfect capital markets? Calculate the dividend rate over the past 2 years. Define why you believe that it has or has not changed over the last 2 years.; This link also has all of the other income information on it all in one place; http://about.puma.com/damfiles/default/investor-relations/financial-reports/en/2015/PUMA_ANNUAL_REPORT_2014-d5f36227d1dc936cc9e964bf08998b74.pdf

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Approximately 250 words