A Company Reported Earnings Per Share of $9

Essay

A company reported earnings per share of $9.75,paid a $6.00 cash dividend per share to preferred shareholders,and paid a $0.54 cash dividend per share to common shareholders.There were 1,000 shares of preferred stock outstanding and 6,000 shares of common stock outstanding during the year,and the market price per share of common stock was $45.Calculate the company's dividend yield for common stock.