legally invest in its own stock and can not make profit from its own stock. It is considered as a contra equity account that reduces shareholder equity on the balance sheet. 8. How much did Merck declare during 2011 in dividends to its common shareholders? $4,818,000,000 9. How much did Merck pay during 2011 in dividends to its common shareholders? $4,691,000,000 10. Record the summary journal entry that Merck would make for its common stock dividend activity during
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will be closer to their expected value, which company should have the higher stock price? Explain. The primary goal of a corporation should be to maximize its owner’s value. If a manager is to maximize shareholder wealth, he/she must know how that wealth is determined. Fundamentally, shareholder wealth is the number of shares outstanding at times the market price per share. A stock’s price at any given time depends on the cash flows a “marginal” investor expects to receive after buying the stock
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more than half the votes would give considerable influence allowing control over appointments to the Board. The Act lays down certain matters, which have to be decided by shareholders at a general meeting by simple majority, whereas certain more important matters can be decided by a special majority of ¾ of the shareholders. Therefore, it is obvious the administration of a company goes with the majority rule. The principle of majority rule was recognized in Foss vs. Harbottle (1843). It is
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Matter of Auer v. Dressler Brief Facts: The President of R. Hoe & Co, Inc., refused to call a special meeting requested by Petitioners, class A stockholders. The trial court granted the mandamus to compel the special meeting Rule of Law: Class A stockholders have a right to call a special meeting to be heard on their disproval of management decisions, to elect and remove directors and to amend bylaws. Facts: Petitioners submitted a written request for a special meeting of class A stockholders
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Brunninghausen v. Glavanics P 3.17 * Nature of the transaction may give rise to a fiduciary duty owed by the directors to the shareholders. Coleman v. Meyers P3.17 * Failure to disclose information within the knowledge of one director may amount to ‘special circumstances’ which can give rise to a duty of a fiduciary nature to individual shareholders and not just the company as a whole. Cooke v. Deeks P3.25 * Director cannot take up a corporate opportunity without fully disclosure
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share (accounting for 19.7% of Conrail’s acquisition shares). The second stage, which could only be executed by mid-November once Conrail shareholders decided to void the “fair value” statute under Pennsylvania law, would be to acquire another 18.4 million shares at $92.50 per share (accounting for another 20.3% of Conrail’s acquisition shares) Following shareholder approval, and successful completion of the second cash tender offer, CSX would proceed with the back-end offer through a share swap of
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1/8/2014 Moneycontrol.com >> Company Info >> Print Financials PRINT « Next Years Previous Years » This data can be easily copy pasted into a Microsoft Excel sheet Maruti Suzuki India Standalone Yearly Results Mar '09 Net Sales/Income from operations Other Operating Income 20,852.52 -- ------------------- in Rs. Cr. ------------------Mar '08 17,860.28 -17,860.28 Mar '07 17,205.88 -17,205.88 Mar '06 14,753.10 --Mar '05 13,343.06 --- Total Income From 20,852.52 Operations EXPENDITURE
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inflow of new target shares (of which hostile acquirer was not able to purchase any), hostile acquirer’s ownership percentage is substantially diluted. Faced with such dilution, hostile acquirer has no choice but to give up its hostile approach. Shareholders other than hostile acquirer are able to buy newly-issued target shares at a substantial discount. If hostile acquirer wants to continue, it has only two practical choices: (1) negotiate with target since only target’s board has the power to redeem
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reasons that the NEC can take actions that destroy value and shift the value of minority shareholders Nese. Events covered allow discussion of how the concentration of ownership hinders restructuring alternatives like hedge fund investors can resist the controlling shareholders, and as underestimating the cost of institutions can lead to ownership structure, which allows the expropriation of minority shareholders. Why do shares in NEC Electronics, a publicly listed subsidiary of Japan conglomerate
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past six months, presumably due to concerns over the performance of M&S. The shares sold by the Standard Life, one of the largest fund management groups in UK, were substantial: from holding over 2% of the company's shares as the 11th largest shareholder of the retailer, Standard Life Investments now holds an "underweight" position of only 1.43%, the report said. The call of other investors is for M&S to begin delivering, especially in clothing where the past few months placed its overhauled
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