Which of the following statements best sums up recent trends in corporate dividend payments?

(a) Nominal dividends per share have remained constant or slightly increased.

(b) Companies have made large increases in real dividends per share.

(c) Companies have decreased payout ratios to stabilise nominal dividends per share.

(d) Nominal dividends per share have decreased on the whole.

(e) Nominal dividends per share have slightly increased in order to increase dividend cover.