The Wei Corporation expects next year's net income to be $15 million. The firm's debt ratio is currently 45%. Wei has $14 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio. According to the residual distribution model (assuming all payments are in the form of dividends), how large should Wei's dividend payout ratio be next year? Round your answer to two decimal

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 15P
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The Wei Corporation expects next year's net
income to be $15 million. The firm's debt ratio is
currently 45%. Wei has $14 million of profitable
investment opportunities, and it wishes to
maintain its existing debt ratio. According to
the residual distribution model (assuming all
payments are in the form of dividends), how
large should Wei's dividend payout ratio be next
year?
Round your answer to two decimal
Transcribed Image Text:The Wei Corporation expects next year's net income to be $15 million. The firm's debt ratio is currently 45%. Wei has $14 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio. According to the residual distribution model (assuming all payments are in the form of dividends), how large should Wei's dividend payout ratio be next year? Round your answer to two decimal
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