Southern Railroad has announced the following stock repurchase plan: $5,000,000 repurchase over the next month. Current price

Question:

Southern Railroad has announced the following stock repurchase plan: $5,000,000 repurchase over the next month. Current price of Southern Railroad is $18.50 per share, and there are 15,000,000 shares outstanding. How many shares is Southern expecting to buy, and what would an equivalent cash be for this repurchase? If you were a shareholder with 600 shares, how many shares would you need to sell back to have the same cash as the cash-equivalent 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...