contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .
there were no contributions to our legacy qualified defined benefit pension plans during 2016 .
we do not plan to make contributions to our legacy pension plans in 2017 because none are required using current assumptions including investment returns on plan assets .
we made $ 23 million in contributions during 2016 to our newly established sikorsky pension plan and expect to make $ 45 million in contributions to this plan during 2017 .
the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2016 ( in millions ) : .

2017
2018
2019
2020
2021
2022 2013 2026
qualified defined benefit pension plans
$ 2260
$ 2340
$ 2420
$ 2510
$ 2590
$ 13920
retiree medical and life insurance plans
180
180
190
190
190
870

defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .
under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .
our contributions were $ 617 million in 2016 , $ 393 million in 2015 and $ 385 million in 2014 , the majority of which were funded in our common stock .
our defined contribution plans held approximately 36.9 million and 40.0 million shares of our common stock as of december 31 , 2016 and 2015 .
note 12 2013 stockholders 2019 equity at december 31 , 2016 and 2015 , our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock .
of the 290 million shares of common stock issued and outstanding as of december 31 , 2016 , 289 million shares were considered outstanding for consolidated balance sheet presentation purposes ; the remaining shares were held in a separate trust .
of the 305 million shares of common stock issued and outstanding as of december 31 , 2015 , 303 million shares were considered outstanding for consolidated balance sheet presentation purposes ; the remaining shares were held in a separate trust .
no shares of preferred stock were issued and outstanding at december 31 , 2016 or 2015 .
repurchases of common stock during 2016 , we repurchased 8.9 million shares of our common stock for $ 2.1 billion .
during 2015 and 2014 , we paid $ 3.1 billion and $ 1.9 billion to repurchase 15.2 million and 11.5 million shares of our common stock .
on september 22 , 2016 , our board of directors approved a $ 2.0 billion increase to our share repurchase program .
inclusive of this increase , the total remaining authorization for future common share repurchases under our program was $ 3.5 billion as of december 31 , 2016 .
as we repurchase our common shares , we reduce common stock for the $ 1 of par value of the shares repurchased , with the excess purchase price over par value recorded as a reduction of additional paid-in capital .
due to the volume of repurchases made under our share repurchase program , additional paid-in capital was reduced to zero , with the remainder of the excess purchase price over par value of $ 1.7 billion and $ 2.4 billion recorded as a reduction of retained earnings in 2016 and 2015 .
we paid dividends totaling $ 2.0 billion ( $ 6.77 per share ) in 2016 , $ 1.9 billion ( $ 6.15 per share ) in 2015 and $ 1.8 billion ( $ 5.49 per share ) in 2014 .
we have increased our quarterly dividend rate in each of the last three years , including a 10% ( 10 % ) increase in the quarterly dividend rate in the fourth quarter of 2016 .
we declared quarterly dividends of $ 1.65 per share during each of the first three quarters of 2016 and $ 1.82 per share during the fourth quarter of 2016 ; $ 1.50 per share during each of the first three quarters of 2015 and $ 1.65 per share during the fourth quarter of 2015 ; and $ 1.33 per share during each of the first three quarters of 2014 and $ 1.50 per share during the fourth quarter of 2014. .

Question: what is the total outstanding number of shares that received dividends in 2016 , ( in millions ) ?
Answer: 295.4

Question: what is the average price of repurchased shares during 2015?
Answer: 203.9