Nordstrom, Inc., is a luxury department store chain headquartered in Seattle, Washington. It was founded in $1901$ as a shoe store. It would begin selling clothes more than sixty years later in $1967.$ Its stock ticker symbol, JWN$,$ represents the initials of Nordstrom$$s founder, John W$.$ Nordstrom.

Nordstrom had a history of declaring dividends regularly every quarter until the Covid$-19$ pandemic hit. February $2020$ marked the beginning of the Covid$-19$ pandemic and, like many other organizations, Nordstrom needed to conserve cash during a period of shutdowns and consumer uncertainty. After its board of directors declared a dividend on February $27,2020,$ Nordstrom$$s board would not declare another dividend until March $2022.$ The dividend announcement from March $2022$ follows:

SEATTLE, March $16,2022/$PRNewswire$/$ Nordstrom, Inc. $($NYSE: JWN$)$ announced today that it is reinstating a quarterly dividend. The Company$$s board of directors approved a quarterly dividend of $19$ cents per share payable on April $13,2022,$ to shareholders of record at the close of business on March $28,2022.$

Read Chapter $6$ in your text on the accounting for dividends and then answer these questions.

Questions

What is the specific date for each of the following events related to this Nordstrom dividend?

Date of declaration

Date of record

Date of payment

On what date does this dividend become an actual liability for Nordstrom?

Assume that there are $1$ billion shares authorized, $200$ million shares issued, and $175$ million shares outstanding on the date of record for this dividend. What is the total dollar amount of this dividend?

How will this dividend impact Nordstrom$$s balance sheet $($assets$,$ liabilities, and stockholders$$ equity$)$ on the date of declaration?

How will this dividend impact Nordstrom$$s balance sheet $($assets$,$ liabilities, and stockholders$$ equity$)$ on the date of payment?