Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Yarrow Corp. just reported net income of $2,900,000 on sales of $29,700,000 and has 900,000 shares of stock outstanding. The stock is currently trading at
Yarrow Corp. just reported net income of $2,900,000 on sales of $29,700,000 and has 900,000 shares of stock outstanding. The stock is currently trading at $50.00 per share. Last year, the company had a 50% dividend payout ratio and paid a dividend per share of \$1.37. Management has decided to pay the same dividend per share this year as last. What will its dividend payout ratio be? 34.00% (B) 34.88% (c) 35.56% (D) 38.25% 42.52%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started