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Basic Question 1 of 7

German shareholders in low tax brackets would prefer a ______ dividend payout.

A. higher
B. lower
C. they don't care as their effective tax rate would be the same as those in higher tax brackets.
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User Contributed Comments 1

User Comment
assistent it used to be like this, but has changed! tax is 25% + 5,5% = 26,38%
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I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt

Martin Rockenfeldt

Learning Outcome Statements

explain factors that affect dividend policy in practice;

calculate and interpret the effective tax rate on a given currency unit of corporate earnings under double taxation, dividend imputation, and split-rate tax systems;

CFA® 2025 Level II Curriculum, Volume 3, Module 16.