Wellington & Hayes Corporation reported a net income of $8,500,000 last year. The dividend per share on common stock was $14.5, while the dividend per share on preferred stock was $3.2. The market price of common stock at the end of the year was $60.4 per share. Throughout the year, 500,000 shares of common stock and 250,000 shares of preferred stock were outstanding. Calculate the dividend payout ratio for the company.

Wellington & Hayes Corporation reported a net income of $8,500,000 last year. The dividend per share on common stock was $14.5, while the dividend per share on preferred stock was $3.2. The market price of common stock at the end of the year was $60.4 per share. Throughout the year, 500,000 shares of common stock and 250,000 shares of preferred stock were outstanding. Calculate the dividend payout ratio for the company.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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