Which of the Following Statements Is Incorrect

Which of the following statements is incorrect?

A) The dividend discount model is well suited for companies that are growing at a steady and sustainable rate.
B) The dividend discount model works reasonable well for large corporations in mature industries with stable profits and an established dividend policy.
C) The dividend discount model is well suited for companies that pay dividends based on a stable dividend payout history that they want to maintain in the future.
D) The dividend discount model works well for many resource based companies, which are cyclical in nature and often display erratic growth in earnings and dividends.