On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend

Question

On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13. Complete the below table to calculate the stock dividend. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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Stock Dividend Number of outstanding shares ? Stock dividend percentage ? Number of shares to be issued ? x Par Value per share ? Value of stock dividend ?

Explanation / Answer

Calculation of the stock dividend Stock Dividend Number of shares outstanding 60000000 Stock Dividend Percentage 5% Number of shares to be issued 3000000 x par value per share 25 Value of stock dividend 75000000 (3000000*25)

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