Answer: Putable shares

**Explanation:** Putable shares typically offer the lowest dividend yield among the options. This is because they provide the investor with the right to sell the shares back to the issuer at a predetermined price, reducing the investor's risk. Lower risk translates to a lower required return, resulting in a lower dividend payment compared to callable or non-callable shares. - **Callable shares (B)** are riskier for investors, as the issuer can redeem them at a predetermined price. To compensate for this risk, callable shares generally pay a higher dividend. - **Non-callable shares (C)** do not have this redemption feature, making them less risky than callable shares but more risky than putable shares. Consequently, their dividend yield falls between the other two options.

Author: LeetQuiz Editorial Team