Jersey Medical earns $10.00 a share, sells for $70, and pays a $4 per share...
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Finance
Jersey Medical earns $10.00 a share, sells for $70, and pays a $4 per share dividend. The stock is split two for one and a $2 per share cash dividend is declared.
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What will be the new price of the stock? Round your answer to the nearest dollar.
$ _____________
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If the firm's total earnings do not change, what is the payout ratio before and after the stock split? Round your answers to one decimal place.
Payout ratio before the split: ____________ %
Payout ratio after the split: ___________ %
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