STOCKHOLDER RATIOS
Presented below are selected data from the financial statements of Debonair Corp. for 2009 and 2008.
| |
2009 |
2008 |
|
Net income
|
$110,000
|
$123,000
|
|
Cash dividends paid on common stock
|
42,000
|
38,000
|
|
Market price per share of common
|
|
|
|
stock at the end of the year
|
16.00
|
13.00
|
|
Shares of common stock outstanding
|
140,000
|
140,000
|
Required:
Calculate the dividend payout ratio for 2009.