Megan has 700 shares of a Building Finder's common stock. There are dividends of $320,000 to be distributed among its common stockholders. There are 65,000 shares of common stock outstanding. How much will Megan receive?

Question

Quizplus · Accepted Answer

To find Megan's dividend payout, we first need to determine what percentage of the total common stock she owns:

Percentage owned by Megan = (700 shares / 65,000 shares) x 100% = 1.08%

Next, we can use this percentage to calculate Megan's dividend payout:

Megan's dividend payout = Percentage owned by Megan x Total dividend payout
Megan's dividend payout = 1.08% x $320,000
Megan's dividend payout = $3,456

Therefore, Megan will receive $3,444 in dividend payout.

Megan Has 700 Shares of a Building Finder's Common Stock