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James Company reported a net income of $700,000 for the year 2013. During the year, the company declared dividends on its 4,000, 7% preferred shares
James Company reported a net income of $700,000 for the year 2013. During the year, the company declared dividends on its 4,000, 7% preferred shares of $100 par. It also declared a dividend of $3.8 per share to the 50,000 common shares outstanding. The dividends were paid by the end of the year. What will be the company's dividend payout ratio?
A. 50% B. 25% C. 28% D. 67%
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