All of the Following Statements Regarding Share Dividends Are Except

Multiple Choice

All of the following statements regarding share dividends are except:

A) Directors can use share dividends to keep the market price of the shares affordable.
B) Share dividends provide evidence of management's confidence that the company is doing well.
C) Share dividends do not reduce assets or equity.
D) Share dividends decrease the number of shares outstanding.
E) Share dividends transfer a portion of equity from retained earnings to contributed capital.