Dividend received is:

The correct option is Investing activity.

To understand why "Dividend received" is classified as an investing activity, let us examine the classification of cash flows in a Cash Flow Statement:
1. Operating Activities: These are the principal revenue-producing activities of the business (such as cash received from customers for selling goods or services).
2. Investing Activities: These activities involve the acquisition and disposal of long-term assets and other investments that are not classified as cash equivalents. When a company invests in the shares or debt instruments of another company, the transaction is an investing activity. Consequently, any income earned from these investments—such as interest received or dividends received—is also classified as an inflow from investing activities.
3. Financing Activities: These activities lead to changes in the size and composition of the owner's capital (equity) and borrowings of the enterprise. For example, paying a dividend to the company's own shareholders is a financing activity.

Because receiving a dividend represents a return on investments made in other enterprises, it is classified as an Investing activity.