Southern Foods recently liquidated its fast food division. That unit represented 20 percent of the firm's overall market value. Prior to the liquidation, the firm's stock was selling for $43 a share, the annual dividend was steady at $1.20 per share, and there were 16,000 shares outstanding. The firm is preparing to distribute the entire liquidation proceeds to shareholders. How much will the liquidating dividend be per share?
$6.10
$8.60
$7.40
$0.24
$0.36
Southern Foods recently liquidated its fast food division. That unit represented 20 percent of the firm's...