In the last quarter of 2011, a German semiconductor company, Infineon (IFX), is operating with a cash balance of €2.4 billion that accounts for 40% of the company’s assets. The company’s management has gathered diverse opinions, as part of its financial policy evaluation, from each of the quarters regarding the payment of few cash holdings that whether it should pay out, and if it does so then what would be the appropriate methods for this payment and how much should it pay.