What is the company common dividend payout ratio

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Question - XYZ Inc's total shareholders' equity is $3,829,400 on Dec 31, Year 3, and $4,544,790 on Dec 31, Year 4. Both balances include $702,590 of preferred shares balance. The preferred shares have a dividend rate of 6.97%. If the company's net income is $857,510 in Year 4, what is the company's common dividend payout ratio in Year 4? Assume there are no other transactions during the year in the equity balances other than the net income and the dividends?

Reference no: EM132896556

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