Midge Inc. Shareholder's Equity As at Dec. 31,2015 Common Shares, no-par; 500,000 shares authorized; 80,000 issued and outstanding Retained Earnings Total Shareholders' Equity 600,000 $1,600,000 2016 Transactions Mar 3 Issued 5,000 common shares at $20 per share.. June- 11., Declared a cash dividend of $0.25 per share to common shareholders of record on June 25, payable on July 6. Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $22 a share on August 21, $24 on September 5, and S26 on September 20.* Aug.q) 21- Nov.