Which one of the following statements is correct?

Question $8$ options:

A$)$

Stock prices tend to ignore expected changes in dividend payments.

B$)$

Share repurchases tend to increase agency costs.

C$)$

Tax rates are the key factor in determining a firm's dividend policy.

D$)$

Firms prefer to cut dividend payments rather than borrow money to fund a short$-$term cash need.

E$)$

Maintaining a steady dividend is a key goal of most dividend$-$paying firms.