Reference no: EM132435554

Question - The following information was extracted from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed:

Common stock ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) $680,000

Additional paid-in capital 163,000

Dividends declared and paid during the year 16,000

Retained earnings at the beginning of the year 75,000

Treasury stock at cost (2,000 shares) (25,000)

Net income for the year was $30,000. The stock price is currently $22.29 per share.

Required -

1. Compute the dividend yield ratio.

2. Determine the number of shares of stock that received dividends.