When a firm increases its quaterly dividend, investors generally consider it is a good news. Which is the following NOT likely to be a reason?

	a.	The firm's management sees the firm have a good future.
	b.	The firm's management sees that it has sufficient ability to raise cash in the future from lenders
	c.	The firm's management sees that the firm has a lot of debt
	d.	The firm has a good corporate governance such that the managment does not need cash to support their private benefits