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Chapter 1 7 Dividend Policy An oil and gas producer s net income in 2 0 2 3 was $ 1 , 3 1 3

Chapter 17 Dividend Policy
An oil and gas producers net income in 2023 was $1,313 million, and the company plans
for $552 million on capital expenditure, and $54 million on acquisition in 2024. Suppose
the company had no other large capital spending, and the target deb-to-equity ratio is 0.48.
The company has 150 million common shares outstanding. How much dividend per share
can the company afford to pay out?
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