Compute the percentage increase in the cash dividend rate

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Reference no: EM131336778

Winkie Baking has just announced a 100 percent stock dividend. The annual cash dividend per share was $2.40 before the stock dividend.

Winkie intends to pay $1.40 per share on each of the new shares. Compute the percentage increase in the cash dividend rate that will accompany the stock dividend.

Reference no: EM131336778

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