A company paid a cash dividend of $0.88 per share during the current year, and reported 84 Copyright ©2018 McGraw-Hill 18,000 shares of common stock issued, and 2,000 common shares in treasury stock during the current year. The year-end market price per share was $27.50. Calculate the following: (1) total amount of cash dividends paid to common shareholders, and (2) dividend yield.
What will be an ideal response?
(1) $0.88 * (18,000 shares — 2,000 shares) = $14,080
(2) Dividend Yield = Cash Dividend per Share/Market Price per Share
Dividend Yield = $0.88/$27.50 = 3.2%
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