A company's board of directors votes to declare a cash dividend of $.90 per share of common stock. The company has 18,000 shares authorized, 13,000 issued, and 12,500 shares outstanding. The total amount of the cash dividend is:

Total amount of dividend = $11700

Explanation:

given data

cash dividend = $.90

shares authorized = 18,000

issued = 13,000

shares outstanding = 12,500

solution

we get here total amount of dividend is

Total amount of dividend = (Number of issued shares) * (dividend per share) ... 1

put here value and we get

Total amount of dividend = $.90 * 13,000

Total amount of dividend = $11700