问题如下：
A company has positive free cash flow and is considering whether to use the entire amount of that free cash flow to pay a special cash dividend or to repurchase shares at the prevailing market price. Shareholders’ wealth under the two options will be equivalent unless the:
选项：
A. company’s book value per share is less than the prevailing market price.
B. company’s book value per share is greater than the prevailing market price.
C. tax consequences and/or information content for each alternative is different.
解释：
C is correct.
For the two options to be equivalent with respect to shareholders’ wealth, the amount of cash distributed, the taxation, and the information content must be the same for both options.
B选项，pb＞px，那么此时按px回购，意味着亏钱，怎么会跟分红一样呢？所以B选项应该也是分红和回购两种方式不一样呀
