On september 15 2011 the scottie company board of directors

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On September 15, 2011, the Scottie Company board of directors declared a 10% stock dividend on common shares. The shares are to be distributed on October 10, 2011, to shareholders of record on October 1, 2011. The market price per share on the date of declaration was $24 while the market price on the date of distribution was $26. The common stock has a par value of $5 per share and there were 1,000,000 shares outstanding prior to the declaration of the stock dividend.

Reference no: EM13587952

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