As of November 2021 total & P 500 dividend payments amounted to $ 127 billion Which one of the following statement regarding payout policy is correct ? O A. Firms tend to increase their regular cash dividend as soon as they expect increased earnings in the future . OB Firms tend to react quickly to lower dividends any time when the economy begins to slow . Managers tend to smooth dividends over time because of signaling effect . D. Stock repurchase announcement sends signals to the market that the current stock price of the company is overvalued from manager's perspectives