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General Manufacturing Company (GMC) follows a policy of paying out 50 percent of its net income as cash dividends to its shareholders each year. The company plans to do so again this year, during which GMC earned $100 million in net profits after tax. The company has 40 million shares outstanding and pays dividends annually.
a. What is the company's nominal dividend payment per share each year?
b. Assuming that GMC's stock price is $54 per share immediately before its ex-dividend date, what is the expected price of GMC stock on the ex- dividend date if there are no personal taxes on dividend income received?
Both warrants and convertibles are types of option securities. Warrants bring in additional funds when exercised, while convertibles do not. Return on Assets will fall after a Convertible Bond is exchanged for equity.
Why are revisions of monetary aggregates less of a problem for measuring long-run movements of the money supply than they are for measuring short-run movements?
Merritt Manufacturing needs to accumulate $15 million to retire a bond issue that matures in 12 years. The firm's manufacturing division can contribute 100,000$ per quarter to an account that will pay 2% quarterly. How much will the remaining divisio..
If there are 10 directors to be elected and a shareholder owns 150 shares, calculate the maximum number of votes that he or she can cast for a favorite candidate under each of the voting methods. Maximum Number of Votes a. Majority voting b. Cumulati..
Conch Republic spent $750,000 to develop a prototype for a new smart phone that has all the features of the existing model, but adds new features such as WiFi tethering. Please identify the relevant cash flows to analyze this project. Based on the fo..
A company using activity based pricing marks up the cost of goods by 0.27 plus charges customers for indirect costs based on the activities utilized by the customer. Indirect costs are charged as follows: $7.90 per order placed; $2.80 per separate it..
Acme Inc.'s stock has a 25% chance of producing a 30% return, a 50% chance of producing a 12% return, and a 25% chance of producing a -10% return. What is the firm's expected rate of return?
Joanie Fabrics makes custom purses and uses 800 yards of fabric per year. The fabric used for the purses has a fixed cost of $50 per order, a carrying cost of $2 per yard per year. When they place an order, it takes 5 days before the shipment is rece..
McGilla Golf is evaluating a new golf club. The clubs will sell for $875 per set and have a variable cost of $430 per set. The company has spent $150,000 for a marketing study that determined the company will sell 60,000 sets per year for seven years..
Relevant incremental cash flows include:
PK Software has 9.1 percent coupon bonds on the market with 22 years to maturity. The bonds make semiannual payments and currently sell for 112 percent of par. What is the current yield on PK's bonds? What is the effective annual yield?
A medication contains 9 mg of active ingredients for every 1 mg of inert ingredients. How much of each kind of ingredient would be in a single 250-mg caplet?
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