A company has 2,000,000 common shares authorized,400,000 common shares issued,and 15,000 common shares in treasury stock at the current year-end.It paid $0.96 per share cash dividends during the year.The year-end market price of the stock is $15.Calculate (1)the total dividends paid and (2)the dividend yield.

Dividend Yield

An economic indicator reflecting the yearly dividends paid by a firm in comparison to its current share value.

Cash Dividends

Cash distributions from a company to its shareholders, usually derived from earnings.

Treasury Stock

Treasury stock consists of shares that were issued and later reacquired by the issuing company, reducing the amount of outstanding stock on the open market.