Concerns about over investment and agency cost issues have caused some governments to require listed companies pay at least a certain amount of their earnings in dividends. Which of the following statements is NOT correct? a. Mandatory payout ratios have not been imposed in Australia b. China now requires firms to maintain a 30% payout ratio and that the dividends are paid in cash c. Chile requires a dividend payout ratio of at least 30% d. Japan requires a dividend payout ratio of at least 25% e. Brazil has a mandatory payout ratio of at least 25% of net profits in the form of dividends
