Banner Corporation had net income of $250,000 and paid dividends to common stockholders of $50,000 in 2003. The weighted average number of shares outstanding in 2003 was 50,000 shares. Banner Corporation's common stock is selling for $50 per share on the New York Stock Exchange. Banner Corporation's payout ratio for 2003 is a.$5 per share. b.25%. c.20%. d.12.5%.
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