Polycom Systems earned $480 million last year and paid out 20 percent of earnings in dividends.
By how much did the company’s retained earnings increase?
With 100 million shares outstanding and stock price of $80, what was the dividend yield? (Hint: First compute dividends per share.)

Polycom Systems earned $480 million last year and paid out 20 percent of earnings in dividends.
By how much did the companys retained earnings increase?