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Consider the following: Truman inc, and Carolina in, are both very similar firms, operating in the same industry. Truman has been sing historically cash dividends only as its payouts to shareholders, while Carolina has been using may ways to pay out shareholders: cash dividends, stock repurchase, stock dividends and DRIPs. Name at least 5 possible advantages that flexible and diverse payout policies might provide to Carolina vs Truman Inc.

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