Which of the Following Statements Is NOT True About Dividend

Which of the following statements is NOT true about dividend payments?

A) Many companies distribute between 30 and 70 percent of their profits to shareholders.
B) Some firms, especially fast-growing companies, do not pay dividends.
C) Many fast-growing companies use cash earnings for expanding the company so that future earnings can grow even faster.
D) During unprofitable years, companies are still required by law to pay dividends to their stockholders.
E) Dividend payments are made to stockholders on a per-share basis.