Groeneweg Corporation Has Provided the Following Data: Dividends on Common

Multiple Choice

Groeneweg Corporation has provided the following data: Dividends on common stock during Year 2 totaled $4,500. The market price of common stock at the end of Year 2 was $9.45 per share. The company's dividend payout ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)

A) 8.7%
B) 13.4%
C) 4.5%
D) 1.0%