The market value balance sheet for Air Taxi, Inc. is shown below. Air taxi has declared...
The market value balance sheet for Air Taxi, Inc. is shown below. Air taxi has declared a stock dividend of 25%. The stock goes ex-dividend tomorrow, with 21,000 shares outstanding.
What will the ex-dividend stock price be?
- Shares outstanding 21,000
- Stock dividend 25%
Market Value Balance Sheet
| Cash | $295,000 | Debt | $180,000 | |
| Fixed assets | $540,000 | Equity | $655,000 | |
| Total | $835,000 | Total | $835,000 |
Homework Answers
Ans :
Equity = $ 655,000
Shares outstanding = 21,000
Stock price = Total market value / shares outstanding
= $ 655,000 / 21,000
= $ 31.19
Shares outstanding will increase by 25% , 21,000 * (125%) = 26,250
New stock price = market value of Equity / new shares
= $ 655,000 / 26,250
= $ 24.95
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