Which phrase is associated MOST closely with equities?

-money markets
-municipal bonds
-stock dividends
-debt investments

Stock dividends.

The phrase that is associated most closely with equities is "stock dividends." Equities commonly refer to stocks or shares of ownership in a company. Stock dividends are periodic distributions of additional shares of a company's stock to existing shareholders. They represent a portion of the company's profits that are reinvested back into the business.