All of the Following Are Dividend Policies EXCEPT

All of the following are dividend policies EXCEPT:

A) stockholders want dividends and they want them to be consistent
B) stockholders prefer the delay of the payment of dividends if there is a corresponding increase in capital gains.
C) stockholders of small firms favor a dividend policy of retention.
D) stockholders who prefer a high dividend payout are unwilling to pay extra for the stock of companies that provide a higher yield mostly because they are living on a fixed income.