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A profitable corporation's board decides to retain earnings for expansion rather than declare a dividend. A shareholder sues to force a dividend solely because dividends were paid in prior years.
Which statement is most accurate?

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Shareholders always have an automatic right to annual dividends if the corporation is profitable. Shareholders generally have no right to a dividend until the board declares one, subject to fiduciary-duty limits on abusive withholding. Dividends are mandatory whenever one shareholder requests them. Dividends can be paid only in property and never in cash.

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