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Pukri Ltd is deciding whether to pay out R90 000 in excess cash in the form of an extra dividend or a share repurchase. Current profits are R2,40 per share and the share sells for R20. The abbreviated balance sheet before paying out the dividend is:
Equity 240 000 Bank/cash 90 000
Debt 160 000 Other Assets 310 000
400 000 400 000
Evaluate each alternative (i.e: pay the dividend or repurchase the shares) by:
Question a) Calculating the number of shares in issue
Question b) The dividends per share (for the first alternative, i.e. pay the dividend)
Calculate:
Question c) The new share price
Question d) The EPS
Question e) The price-earnings ratio
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