if a company pays a dividend, what type of dividend policy is usually recommended?

Question $1$ options:

$1)$

pay dividends based on a percentage of yealy cash flows

$2)$

pay dividends based on yearly free cash flows

$3)$

pay low and steady dividends, and if cash flows are very positive a special dividend can be declared to reward stockholders

$4)$

none of the other answers are correct