37.5DividendsGay&s Super Markets Inc. (Super Markets) was a corporationformed un

37.5DividendsGay&s Super Markets Inc. (Super Markets) was a corporationformed under the laws of the state of Maine. Hannaford Bros.Company held 51 percent of the corporation &s common stock.Lawrence F. Gay and his brother Carrol were both minorityshareholders in Super Markets. Lawrence Gay was also the manager ofthe corporation &s store at Machias Maine. One day he wasdismissed from his job. At the meeting of Super Markets &sboard of directors a decision was made not to declare a stockdividend for the prior year. The directors cited expected lossesfrom increased competition and the expense of opening a new storeas reasons for not paying a dividend. Lawrence Gay claims that thereason for not paying a dividend was to force him to sell hisshares in Super Markets. Lawrence sued to force the corporation todeclare a dividend. Who wins?Gay v. Gay &sSuper Markets Inc. 343 A.2d577Web1975 Me. Lexis 391(Supreme Judicial Court of Maine)