The Fact That Flotation Costs Can Be Significant Is an Argument

The fact that flotation costs can be significant is an argument for:
The fact that flotation costs can be significant is an argument for:

A) a firm to issue larger dividends than its closest competitors.
B) a firm to maintain a constant dividend policy even if it frequently has to issue new
C) shares.
D) maintaining a constant dividend policy even when profits decline significantly.
E) maintaining a high dividend policy.
F) maintaining a low dividend policy and rarely issuing extra dividends.