Question

Solve the following dividend problem Oaktree Transportation Corporation has 75,000 shares of stock outstanding. What would the dividend per share of stock be from a dividend declaration of $102,750? How many shares of stock does Jody Nichols hold if her share of the dividend is $20.55?

Answer 1

`\frac{102750 \textrm{ dollars}}{75000 \textrm{ shares}} = 1.37 \textrm{ dollars per share}}`

Answer: Dividend $1.37 per share

`\frac{20.55 \textrm{ dollars}}{ 1.37 \textrm{ dollars per share}} = 15 \textrm{ shares}`

Answer: Jody has 15 shares