Phips Company paid total cash dividends of $59,400 on 18,000 outstanding common shares. On the most recent trading day, the common shares sold at $73. What is this company's dividend yield? (Do not round your intermediate calculations.)

Question

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Dividend yield = (Total cash dividends / Market value of outstanding shares) * 100= ($59,400 / (18,000 * $73)) * 100= 4.52%

Phips Company Paid Total Cash Dividends of $59,400 on 18,000