How is a company's distribution to shareholders policy defined? Finance questions

 
Please, address each of the questions below, in 100-150 words (per question). Include any relevant examples and links to your sources.  ( Please review Attached material)
 

1. How is a company’s distribution to shareholders policy defined?

2. Has the number of publicly traded companies increased, over time? Please, explain.

3. What are some arguments in support of the dividend irrelevance theory?