问题如下：
Under which of the following situations, a low dividend policy would be implemented?
选项：
A.Low tax rate on dividends.
B.Flotation costs are low.
C.Companies with many profitable investment opportunities.
解释：
C is correct.
考点：Factors Affecting Dividend Policy
解析：当公司面临很多可盈利的投资项目，会降低分红，增加留存收益用来后续发展。
浮动成本是什么？一个干扰项？
