Why Are the Values of Past Dividends Not Included in the Dividend

Why are the values of past dividends not included in the dividend valuation method for the price of a share?

A) Because the dividends have already been spent by the shareholders.
B) Because the dividends may be recalled if they are cut in the future.
C) Because these dividends are already baked into the current price of the shares.
D) Because the dividends have often been paid in non-cash forms like stocks dividends.
E) Because the dividends are under control of the current Board of Directors, not previous Boards.