Mayflower Corporation has only one class of stock There are 90,000 shares outstanding During 2016, the corporation 's net income after taxes was $990,000 The policy of the corporation is to declare dividends equal to 20 percent of its net income Sherrye White owns 350 shares of the stock How much w...

Mayflower Corporation has only one class of stock. There are 90,000 shares outstanding. During 2016, the corporation's

Question:

Mayflower has only one class of stock. There are 90,000 shares outstanding. During 2016, the corporation's net income after taxes was $990,000. The policy of the is to declare dividends equal to 20 percent of its net income. Sherrye White owns 350 shares of the stock. How much will White receive as a on her shares?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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...