Stock repurchase plan. Southern Railroad has announced a $5,600,000 stock repurchase plan over the next month. The current price of Southern Railroad stock is $17.98 per share, and 17,000,000 shares are outstanding. How many shares is Southern expecting to buy? What is the cash dividend that the company could pay with the repurchase money? If you were a shareholder with 1000 shares, how many shares would you need to sell back to get cash equivalent to this dividend? How many shares is Southern expecting to buy? shares (Round to the nearest whole number.)