A corporation paid a cash dividend of $0.85 per share during the current year. It had 1,550,000 common shares outstanding at year-end, its current year earnings per share was $3.45, and the stock's year-end market price was $10.63 per share. Calculate the company's dividend yield.
What will be an ideal response?
Dividend Yield = Cash Dividend per Share/Market Price per Share
Dividend Yield = $0.85/$10.63 = 8%
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