44 Lucas Inc. earned $15 million last year and retained $6 million. Lucas has 14 million...
44
Lucas Inc. earned $15 million last year and retained $6 million. Lucas has 14 million shares outstanding, and the current price of Lucas shares is $25 per share. What is the dividend payout ratio? (Round your answer to the nearest whole percent.)
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63%
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65%
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60%
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55%
Homework Answers
Dividends = Earnings - Retained funds = $15 million - $6 million = $9 million
Payout ratio = dividends/earnings = $9 million/$15 million = 60%
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