  A stock loan is a loan, secured by a stock, which gives the borrower the
right to redeem the stock at any time before or on the loan maturity. The way
of dividends distribution has a significant effect on the pricing of the stock
loan and the optimal redeeming strategy adopted by the borrower. We present the
pricing models sub ject to various ways of dividend distribution. Since
closed-form price formulas are generally not available, we provide a thorough
analysis to examine the optimal redeeming strategy. Numerical results are
presented as well.
