Which of the following is LEAST TRUE about dividend policy?

		Paying a dividend is a way for firm managers to signal that they are confident about future cash flows
		Paying a dividend is a way for firm managers to incur monitoring by having to visit capital markets
		Paying a dividend is a way for firm managers to be bonded because the stock price will fall dramatically if they cannot pay the dividend
		Paying a dividend is a way for firm managers to signal that their shares are under-valued
		All of these are true