Partridge Inc The Company Has No Preferred Stock Outstanding

question 22

Multiple Choice

Partridge Inc. provides the following information for the year 2014: $$\begin{array} { | l | r | } \hline \text { Net income } & \$ 31,200 \\\hline \text { Market price per share of common stock } & \$ 12.00 / \text { share } \\\hline \text { Dividends paid } & \$ 0.80 \text { /share } \\\hline \text { Common stock outstanding at Jan } 1,2015 & 110,000 \text { shares } \\\hline \text { Common stock outstanding at Dec } 31,2016 & 150,000 \text { shares } \\\hline\end{array}$$ The company has no preferred stock outstanding. Calculate the dividend yield for common stock.

• A) 6.67%
• B) 1.67%
• C) 3.67%
• D) 4.67%

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