A company's directors set three objectives for the coming year: 1) maintain a constant dividend; 2) increase the earnings per share; and 3) transfer some of the firm's excess cash to the shareholders. Which one of the following best meets these objectives?

Multiple Choice

• A.Do a reverse stock split.

• B.Pay a stock dividend.

• C.Pay a liquidating dividend.

• D.Do a stock repurchase.

• E.Increase the regular dividend.