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Compute the dividend payout ratio

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Question - Delatrinidad Corporation's net income last year was $7,739,000. The dividend on common stock was $12.8 per share and the dividend on preferred stock was $2.9 per share. The market price of common stock at the end of the year was $53.6 per share. Throughout the year, 420,000 shares of common stock and 210,000 shares of preferred stock were outstanding. The dividend payout ratio is closest to?

Reference no: EM132069712

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