Netpass Company has 100,000 shares of common stock authorized, 85,000 shares issued, and 30,000 shares of treasury stock. The companys board of directors declares a dividend of $1.40 per share of common stock. What is the total amount of the dividend that will be paid?

M11-7 Determining the Amount of a Dividend [LO 11-3] Netpass Company has 100,000 shares of common stock authorized, 85,000 shares issued, and 30,000 shares of treasury stock. The company's board of directors declares a dividend of $1.40 per share of common stock. What is the total amount of the dividend that will be paid? Dividend Amount to be Paid