The market value balance sheet for Air Taxi is shown below. Air taxi has declared a stock dividend of 28%. The stock goes ex-dividend tomorrow, with 28,000 shares outstanding.
What will the ex-dividend stock price be?
- Shares outstanding 28,000
- Stock dividend 28%
Market Value Balance Sheet
Cash $295,000 Debt $180,000
Fixed assets $540,000 Equity $655,000
Total $835,000 Total $835,000