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(Dividend payout ratio) Simpson Energy earned $3 million in net income last year and for the first time ever paid its common stockholders a cash

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(Dividend payout ratio) Simpson Energy earned $3 million in net income last year and for the first time ever paid its common stockholders a cash dividend of $0.12 per share. The firm has 10 million shares outstanding. What was Simpson's dividend payout ratio? Simpson's dividend payout ratio was % (Round to two decimal places.)

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