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Which of the following tests was empirically derived?
Constant Dividend
A dividend policy by which a company pays out a fixed amount of dividend per share over time, regardless of the company's earnings fluctuations.
Annual Dividend
The annual dividend is the total dividend payment a company pays to its shareholders for the year, often related to its profitability.
Annual Dividend
The total amount of dividends that a company pays to its shareholders for each share they own in a given fiscal year.
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