AFB, Inc.'s dividend policy is to maintain a constant payout ratio. This year AFB, Inc. paid out a total of $2 million in dividends. Next year, AFB, Inc.'s sales and earnings per share are expected to increase. Dividend payments are expected to

a. remain at $2 million.

b. increase above $2 million.

c. decrease below $2 million.

d. increase above $2 million only if the company issues additional shares of common stock.