Lafferty Corporation reported earnings per share of $9.75,paid a $6.00 cash dividend per share to preferred shareholders,and paid a $0.54 cash dividend per share to common shareholders.There were 10,000 shares of preferred stock outstanding and 600,000 shares of common stock outstanding during the year,and the market price per share of common stock was $41.60.Calculate the company's dividend yield for common stock.

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The Answer of Lafferty Corporation reported earnings per share of $9.75,paid a $6.00 cash dividend per share to preferred shareholders,and paid a $0.54 cash dividend per share to common shareholders.There were 10,000 shares of preferred stock outstanding and 600,000 shares of common stock outstanding during the year,and the market price per share of common stock was $41.60.Calculate the company's dividend yield for common stock.

Lafferty Corporation Reported Earnings Per Share of $9