One-time extraordinary dividend or repurchasing stock

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Infrared Geological Technologies (IGT) is using the residual dividend policy in the past to determine its per share dividend. The firm's management team it has decided that it will now change their dividend policy right away.

The new policy will be all about a much lower dividend per share than last year of only $1.00. However, if the firm has considerable excess cash, the firm will consider paying a one-time extraordinary dividend or repurchasing stock. Can you please write a press release for this change in dividend policy?

Reference no: EM132420705

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