expected growth rate of a firm

1. What effect does the expected growth rate of a firm's stock price (sub-sequent to issue) have on its ability to raise additional funds through (a) convertibles and (b) warrants?
2. a. How would a firm's decision to pay out a higher percentage of its earnings as dividends affect each of the following?
(1) The value of its long-term warrants
(2) The likelihood that its convertible bonds will be converted
(3) The likelihood that its warrants will be exercised
b. If you owned the warrants or convertibles of a company, would you be pleased or displeased if it raised its payout rate from 20 percent to 80 percent? Why?