Partridge Ltd Provides the Following Information for the Year 2016

Multiple Choice

Partridge Ltd provides the following information for the year 2016: $\begin{array}{|l|l|}\hline\text { Net profit } & \$ 195,000 \\\hline \text { Market price per share of ordinary shares } & \$ 30,00 / \text { share } \\\hline \text { Dividends paid } & \$ 1,1 / \text { share } \\\hline \text { Ordinary shares outstanding at } 1 \text { Jan } 2016 & 120,000 \text { shares } \\\hline \text { Ordinary shares outstanding at 31 Dec 2016 } & 140,000 \text { shares }\\\hline\end{array}$ The company has no preference shares outstanding.Calculate the dividend payout ratio.

A) 31.43%
B) 67.48%
C) 30.00%
D) 73.33%