Question: Southern Railroad has announced the following stock repurchase plan 5 000 000
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 dividend 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 dividend as the cash-equivalent dividend?
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