Simpson Energy earned $3 million in net income last year and for the first time ever paid

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Simpson Energy earned $3 million in net income last year and for the first time ever paid its common stockholders a cash dividend of $0.12 per share. The firm has 10 million shareholders. What was Simpson's dividend payout ratio?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Foundations Of Finance

ISBN: 9780134083285

9th Edition

Authors: Arthur J. Keown, John H. Martin, J. William Petty

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