Which of the following statements is correct? Stock repurchases reduces the number of outstanding shares. (B) Very often, a company's stock price will decline when it announces that it plans to commence a share repurchase program because a repurchase announcement usually is seen as a negative signal from management. (C) If a company has a 2-for-1 stock split, its stock price should roughly double. D The clientele effect is the best explanation for why companies tend to vary their dividend payments from quarter to quarter. None of the above