The Lintner model $($dividends as Smoothies$)$ is based on the principle that a firm should raise its dividends when the firm$$s earnings have reached a higher level estimated to be $$permanent$($with a high probability$)$ and aims to smooth out the volatility of the underlying earnings. The value for shareholders from this approach is more based on the informational content of dividends than on the amount of dividends itself. This statement is:

False

True