Stock Dividend (10 Marks) If the board intends to issue a stock dividend instead of a cash dividend of $.025 for every share outstanding after reacquiring these shares.

show the revised shareholder's equity section of the company's financials because of this stock dividend.

Repurchase shares = 2,026,000,000 shares outstanding

Stock dividend is $0.025 for each share= 2,026,000,000 x 0.025 = 50,650,000

Share capital= (2,026,000,000 x 51.19) + 50,650,000= 103,761,590,000

(Issue price per share)

Enbridge Inc. company

Statement of Shareholders Equity

For the Ending of the year December 31, 2021

Common share, no par value 103,761,590,000

Contributed surplus (127,975,000)

Additional paid-in capital 365,000,000

Accumulated other comprehensive loss (10,989,000,000)

Total shareholder s Equity $93,000,615,000

--> That will be the impact on the earnings per share? Why?