39a: is there a difference between a stock split and a stock dividend?

CFA Level I Corporate Finance
#1

Let’s say a company offers a 20% stock dividend when the share price is 30. An individual investor that used to own 100 shares at $30 now owns 120 shares at $25. His wealth and proportional ownership in the company is still the same.

For the purposes of the exam, how is this any different from a company announcing a 6-5 stock split?

#2

They’re the same thing, though you’d write the split as 6_ : _5, not 6-5.

I cover this in an article I wrote on WACSO: http://financialexamhelp123.com/weighted-average-common-shares-outstanding-wacso/.