Despite recent increases in sales and cash flow that have propelled automobile companies' common stocks to new highs, several industry analysts expect automakers, in order to conserve cash, to set dividends more conservatively than they were.

A) to set dividends more conservatively than they were
B) to set dividends more conservatively than they have been
C) to be more conservative than they have been in setting dividends
D) that they will be more conservative than they were in setting dividends
E) that they will be more conservative than they have been to set dividends

OA is C

I JUST need explanation for D and E . I am completely comfortable with A, B and C . If you have doubt for these answer choices , do let me know. For D and E, could someone ,please, explain . I see some issues with tense and few might say pronouns but I want to be completely sure .

Thank you.