Beruflich Dokumente
Kultur Dokumente
Noncash
Cash Distributions
Distributions
Regular Cash
Stock Dividend
Dividend
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Corporation Established by Established by Established by
Issues Markets Based on Corporation as Corporation as
Dividend the Trade Date of Date the
Declaration Settlement Cycle Ownership of Dividend Is
Stock Actually Paid
Scenario 1:
Net income = $3 × $16 million = $48 million
EPSScenario 1 = $48 million (16 million – 4 million) = $4 per share
Scenario 2:
Net income = $3 × 16 million – (0.07 × $100 million) = $41 million
EPSScenario 2 = $41 million (16 million – 4 million) = $3.41 per share
Continuing the Diluting Company example and adding the book value per share
of $20:
Scenario 1:
Book value = ($20 × 16 million) – $100 million = $220 million
BVPSScenario 1 = $220 million (16 million – 4 million) = $18.33 per share
Scenario 2:
Book value = ($20 × 16 million) – $100 million – $7 million = $213 million
BVPSScenario 2 = $213 million (16 million – 4 million) = $17.75 per share