Despite the theoretical assertions of proponents of the dividend irrelevance theory, many investors do care about dividends. The table lists some factors that might affect an investor's preference for dividends. Indicate whether each factor is likely to make an investor prefer to receive more or fewer dividends. Sportdyne Inc. is a typical company that is very concerned with meeting investors' expectations and keeping investors happy. Its earnings tend to fluctuate from year to year because of the nature of the business the company is in. Which of these statements most likely describes Sportdyne Inc.'s dividend policy? Despite the fact that Sportdyne Inc.'s earnings tend to fluctuate from year to year, the company most likely pays a predictable, stable dividend each year. Sportdyne Inc. most likely pays very large dividends in years with high earnings and small dividends in the years with low earnings