human
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 – 2026 |
| --------- | --------- | --------- | --------- | --------- | --------- | --------- |
| Qualified defined benefit pension plans | $2,260 | $2,340 | $2,420 | $2,510 | $2,590 | $13,920 |
| 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. .
Please answer the following questions with expressions if necessary.
what was the value of shares repurchased during 2015, divided by 1000?
assistant
divide(3.1, const_1000)
human
how many shares were repurchased in 2015?
assistant
15.2
human
what was the average price per share?
assistant
divide(3.1, const_1000), divide(#0, 15.2)