The following financial information is available for Crane Corporation. (in millions) 2020 2019 Average common stockholders’...
The following financial information is available for Crane
Corporation.
|
(in millions) |
2020 |
2019 |
||
| Average common stockholders’ equity | $2,566 | $2,607 | ||
| Dividends declared for common stockholders | 292 | 623 | ||
| Dividends declared for preferred stockholders | 55 | 55 | ||
| Net income | 502 | 564 |
Calculate the payout ratio and return on common stockholders’
equity for 2020 and 2019.
Homework Answers
Calculate payout ratio
| 2020 | 2019 | |
| Payout ratio | 292/447 = 65% | 623/509 = 122% |
| Return on Common Stockholder's equity | 447/2566 = 17% | 509/2607 = 20% |
Payout ratio = Dividend for Common Stockholder/(Net income-Preferred dividend)
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