Question

Solve the following dividend problem. Sun Country Bus Lines has 80,000 shares of stock outstanding. What would the dividend per share of stock be from a dividend declaration of $109,600? How many shares of stock does Julie Norris hold if her share of the dividend is $6.85?

Answer 1

A= $1.37
B = 5hope this helped

Answer 2

Norris holds 5 shares.

Explanation:

Total outstanding stock of shares that Sun Country Bus Lines has = 80,000

Total value of dividend declaration by the company = $109,600

Dividend value for each share = 109,600 ÷ 80,000

= $1.37

Julie Norris holds some shares of stock.

The value of the dividend for her shares = $6.85

The number of shares Norris has =
`(6.85)/(1.37)`

= 5 shares

Norris holds 5 shares and dividend value per share is $1.37.