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How much will white receive as a dividend on his shares

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Problem - Computing dividends payable - Sherry white ve 5 Mayflower Corporation has only one class of stock. There are 80,000 shares outstanding. During 2013, the corporation's net income after taxes was $640,000. The policy of the corporation is to declare dividends equal to 15 percent of its net income. Sherrye White owns 250 shares of the stock. How much will White receive as a dividend on his shares?

Reference no: EM132913085

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