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KIM [24]
2 years ago
5

Rory is the CFO of McIlroy Golf Designs Inc. MGDI earned $13 million last year and maintains a 30% dividend payout ratio. The co

mpany has 2 million shares of common stock outstanding and a P/E ratio of 10. What is the price per share of MGDI's stock
Business
1 answer:
BaLLatris [955]2 years ago
5 0

Answer:

<u>Price per share of MGDI's stock is $78</u>

Explanation:

Earnings per share=Total earnings/Shares of common stock outstanding

=(13/2)=$6.5

PE ratio=Stock price/Earnings per share

Stock price=$6.5*12

=$78.

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8 0
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Unissued shares are?
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Answer:

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