Which One of the Following Statements Related to Cash Dividends

Which one of the following statements related to cash dividends is correct?

A) Extra cash dividends cannot be repeated in the future.
B) A dividend is never a liability of the issuer until it has been declared.
C) If a firm has paid regular quarterly dividends for at least five consecutive years, it is legally obligated to continue doing so.
D) Regular cash dividends reduce paid-in capital.
E) The dividend yield expresses the annual dividend as a percentage of net income.