Based on the financial statements provided for Hershey, how much dividends in do

Question

Based on the financial statements provided for Hershey, how much dividends in dollars did Hershey pay in 2013? In 2014? geographic region are given in Exhibit 2. North America accounted by 6 86.8, and 87.5 percent of the from Hershey stores are included in the International and Other segment. 2 that Hershey's income from outside North America has declined steadily. company's sales in 2014, 2013, and 2012, respectively. Note EXHIBIT 2 Hershey's Net Sales and Income (in millions) 2014 2014 Sales North America International and Other Total $6.352.7 1,069.1 7,421.8 $5,812.7 $6,200.1 946.0 7,146.1 6,644.3 North America International and Other Total Source: Based on Hershey's 2014 Form IOK, p. 25. 1,916.2 40.0 $1,956.2 1,862.6 44.6 $1,907.2 1,656.1 51.4 $1,707.5 Finance Hershey reported a 3.9 percent increase in revenues in 2014 to $7.42 billion, whereas company earnings increased about 7 percent overall from the prior year. The company's international net sales increased nearly 15 percent, including the negative impact of foreign currency exchange rates and positive contri- bution of about $54 million from Hershey's acquisition of Shanghai Golden Monkey in China. Hershey has gained market share in every measured channel three years running, even after raising prices on many items 10 percent over the same period. In fact, Hershey has produced higher earnings every year but two since 2000. With a 34 percent market share in North America, Hershey instituted an 8 percent price hike in late 2014 on most of its chocolate products, partly in response to higher cocoa prices. The company's most recent income statements and balance sheets are provided in Exhibits 3 and 4, respectively. Note the steady increases in both revenues and net income. EXHIBIT 3 Hershey's Income Statements (in thousands, except per share amounts) 2014 $7,421,768 2013 2012 $7,146,079 $6,644.252 Sales Costs and expenses Cost of sales Selling, marketing, and administrative Business realignment and impairment Total costs and expenses Income before interest and taxes Interest expense Income before taxes Income taxes Net Income Net income per share Dividends paid per share 3,784,370 1,703.796 44,938 5,533.104 1,111,148 95,569 1,015,579 354,648 660,931 4,085,602 1,900,970 45,621 6,032,193 1,389,575 3,865,231 1,922,508 18,665 5,806,404 1,339,675 88,356 1,251,319 430,849 820,470 3.76 1.81 83,532 1,306,043 459,131 846,912 3.91 2.04 1.56 Source: Based on Hershey's 2014 Form IOK, p. 45

Explanation / Answer

Based on the financial statements provided for Hershey, how much dividends in dollars did Hershey pay in 2013? In 2014? Retained Earnings 2013 $5,454,286.00 Add Net income 2014 $846,912.00 Less: Retained Earnings 2014 -$5,860,785.00 Dividend paid in 2014 $440,413.00 Retained Earnings 2012 $5,027,617.00 Add Net income 2013 $820,470.00 Less: Retained Earnings 2013 -$5,454,286.00 Dividend paid in 2014 $393,801.00

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