At the end of the year, Shiloh Industries reported retained earnings of $497,000 on its balance sheet, and it reported that it had $173,000 of net income during the year. The previous year's balance sheet had reported $445,000 of retained earnings. No shares were repurchased or issued during the year. If the company has 100,000 shares outstanding, what was their dividend per share?
At the end of the year, Shiloh Industries reported retained earnings of $497,000 on its balance sheet, and it reported that it had $173,000 of net income during the year. The previous year's balance sheet had reported $445,000 of retained earnings. No shares were repurchased or issued during the year. If the company has 100,000 shares outstanding, what was their dividend per share?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:At the end of the year, Shiloh Industries reported retained earnings of $497,000 on its balance sheet, and it
reported that it had $173,000 of net income during the year. The previous year's balance sheet had
reported $445,000 of retained earnings. No shares were repurchased or issued during the year. If the
company has 100,000 shares outstanding, what was their dividend per share?
Your answer should be between 0.85 and 1.95, rounded to 2 decimal places, with no special characters.
Expert Solution
Given information:
The beginning retained earnings is $445,000.
The ending retained earnings is $497,000.
The net income is $173,000.
The total number outstanding shares is 100,000.
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