This video tutorial covers first part (Out of total two parts) of Reading 39- Dividends and Share repurchases. This video provides information of the following : 1. Regular cash dividends, extra dividends, stock dividends, stock splits, and reverse stock splits, including their expected effect on a shareholder's wealth and a company's financial ratios. 2. Dividend payment chronology, including the significance of declaration, holder-of- record, ex-dividend, and payment dates. 3. Share repurchase methods. 4. Effects of a share repurchase on earnings per share when 1) the repurchase is financed with the company's excess cash and 2) the company uses funded debt to finance the repurchase. 5. Effect of a share repurchase on book value per share. 6. Cash dividend and a share repurchase of the same amount are equivalent in terms of the effect on shareholders' wealth, all else being equal.