A company has the following earnings history for the past five years: Year Earnings per share 

2015 $2.50

2014 2.00

2013 1.75

2012 1.25

2011 -1.00

If the dividend policy is based on a 50% payout ratio every year when earnings exceed $ 1.50 per share, otherwise the payout is 0, dividends for 2011 and 2015 are: 

a.$ 0.50 and $ 1.25 respectively. B.$ 0 and $ 1.25 respectively. C.$ 0 and $ 2.00 respectively. D.$ 0 and $ 0.88 respectively.