At the market close of January 19, 2005, Bank of America Corp. had a closing stock price

Question:

At the market close of January 19, 2005, Bank of America Corp. had a closing stock price of $44.97. In addition, Bank of America had earnings per share of $3.76 and dividend per share was $1.80. Determine Bank of America’s

(a) Dividend yield and

(b) Dividend payout ratio. Round percentages to one decimal place.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...