Maholm Company declared a cash dividend payable to common stockholders of record as of December 24, 20X2. The dividend was declared on December 10, 20X2 and will be paid on January 7, 20X3. On what date or dates will stockholders equity decrease as a result of the dividend?

A. December 10, 20X2 and January 7, 20X3

B.December 24, 20X2 only

C.December 10, 20X2 only

D.January 7, 20X3 only