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Dive Company maintains a policy to have a consistent payout ratio from year to year. Selected financial information for the company is as follows:
What amount of dividends would the company pay during the current year?
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15. Financial Statement Analysis
Ratios: Payout Ratio
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ConsistoCo has a policy to maintain a constant payout ratio from year to year. During the previous fiscal year, net income totaled \$1,200,000 and ConsistoCo paid \$240,000 in dividends. This year, due to the settlement of a lawsuit, the company had net income of \$700,000. What amount of dividends would investors expect ConsistoCo to declare this year?
A
\$70,000
B
\$140,000
C
\$140,000
D
\$240,000
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