Which of the following statements regarding dividends and share repurchases is correct? When a company's board of directors:

Group of answer choices

A. declares a quarterly dividend, it becomes a legal obligation to pay on the ex-dividend date.

B. announces a share repurchase plan, the company is legally committed to repurchasing the stated number of shares over the announced time frame.

C. announces a dividend for the first time, investors generally expect the dividend to continue at its current amount or higher for the foreseeable future.