Which of the Following Is the Best Definition of a Residual

Which of the following is the best definition of a residual dividend approach?

A) Payment made by a firm to its owners in the form of stock, diluting the value of each share outstanding.
B) Procedure where a firm's number of shares outstanding is reduced.
C) Policy where a firm pays dividends only after meeting its investment needs while maintaining a desired debt-to-equity ratio.
D) Another method used to pay out a firm's earnings to its owners, which provides more preferable tax treatment than dividends.
E) Cash payment made by a firm to its owners in the normal course of business, usually made four times a year.