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Author Question: Smith Motors Inc. manufactures, distributes, and services automotive parts and engines worldwide. ... (Read 75 times)

ishan

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on: Apr 25, 2021
Smith Motors Inc. manufactures, distributes, and services automotive parts and engines worldwide. Smith's income statement for the year just ending is shown below. Assume that today is the first day of Year 2 and that Smith's common shares are trading at a price of $88. In its most recent Management Discussion and Analysis (MD&A) Smith's management forecast earnings-per-share of $7.5 for Year 2. If Smith maintains its Year 1 payout ratio, then what is the dividend yield (based on forecasted earnings)?

Smith Motors Inc.
Income Statement
Year 1 ($000,000s)
Revenue$20,995
COGS15,624
SG&A2,466
Dep. Exp.247
EBIT2,658
Int. Exp.55
Pre-Tax Income2,603
Income Tax898
Net Income1,705
​​
Shares Outstanding (millions)205
Total Common Dividends$300.5

◦ 0.88%
◦ 1.32%
◦ 1.51%
◦ 1.76%
◦ 2.62%
Corporate Finance Online ¦ Eakins, McNally ¦ 2nd Edition
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Marked as best answer by ishan on Apr 25, 2021

patma1981

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Reply #1 on: Apr 25, 2021
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ishan

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Reply 2 on: Apr 25, 2021
Wow, this really help

dawsa925

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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