The Herald Company has 50,000 shares of common stock outstanding. Earnings per share of common stock for the year is $15.00. The dividend paid to the preferred stockholders during the year was $2.00 per share. Common stockholders received dividends totaling $150,000. The dividend payout ratio for the year was closest to:

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The Answer of The Herald Company has 50,000 shares of common stock outstanding. Earnings per share of common stock for the year is $15.00. The dividend paid to the preferred stockholders during the year was $2.00 per share. Common stockholders received dividends totaling $150,000. The dividend payout ratio for the year was closest to:

The Herald Company Has 50,000 Shares of Common Stock Outstanding