Bayside Marina Just Announced It Is Decreasing Its Annual Dividend

Multiple Choice

Bayside Marina just announced it is decreasing its annual dividend from $1.48 per share to $1.45 per share effective immediately. If the dividend yield remains at its pre-announcement level, then you know the stock price:

A) was unaffected by the announcement.
B) increased proportionately with the dividend decrease.
C) decreased proportionately with the dividend decrease.
D) decreased by $.03 per share.
E) increased by $.03 per share.