a companys board of directors votes to declare a cash dividend of $1.75 per share of common stock. the…

a companys board of directors votes to declare a cash dividend of $1.75 per share of common stock. the company has 35,000 shares authorized, 30,000 issued, and 29,500 shares outstanding. the total amount of the cash dividend is: multiple choice $51,625 $61,250 $104,125

a companys board of directors votes to declare a cash dividend of $1.75 per share of common stock. the company has 35,000 shares authorized, 30,000 issued, and 29,500 shares outstanding. the total amount of the cash dividend is: multiple choice $51,625 $61,250 $104,125

Answer

Explanation:

Step1: Identify relevant values

Dividend per - share = $1.75, Outstanding shares = 29500

Step2: Calculate total dividend

Total dividend=Dividend per - share×Outstanding shares = 1.75×29500 = 51625

Answer:

$51,625