Question: Northern Railroad has announced that it will buy back 1 000 000
Northern Railroad has announced that it will buy back 1,000,000 of its 30,000,000 shares over the next year. If the stock is selling for $23.40, what is the equivalent cash dividend that the company could pay? If you owned 300 shares of stock, how many would you need to sell to get this cash-equivalent dividend?
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