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How much is the minimum dividend

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Problem - Last year, Absolute Zero Freezers paid a dividend equal to $0.95 per share. Absolute follows the low regular dividend plus extras policy to determine its annual dividend. The policy requires the minimum dividend to be increased by 30 percent of the amount of earnings that exceeds $30,000. Last year's earnings were $50,000. If Absolute has 40,000 shares outstanding, how much is the minimum (low regular) dividend that the firm pays each year?

Reference no: EM132698783

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