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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1. Anson Corporation's net income last year was P7,975,000. The dividend on common stock was P8.20 per share and the dividend on preferred stock was P3.50 per share. The market price of common stock at the end of the year was P59.10 per share. Throughout the year, 500,000 shares of common stock and 200,000 shares of preferred stock were outstanding. The dividend payout ratio a) 1.06 b) 0.51 c) 0.56 d) 1.29 2. The following information appeared in the accounting records of a retail store for the year ended Dec. 31, 2019: Sales P300,000 Purchases 140,000 Inventories January 1 70,000 December 31 100,000 Sales Commission 10,000 The gross margin was a. P190,000 b. P 180,000 c. P160,000 d. P 150,000 3. Spark Co’s calculated the following ratios for…
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