diff --git a/x/manifest/keeper/keeper.go b/x/manifest/keeper/keeper.go
index 2923bdc..3ea41d7 100644
--- a/x/manifest/keeper/keeper.go
+++ b/x/manifest/keeper/keeper.go
@@ -11,6 +11,7 @@ import (
 	sdkmath "cosmossdk.io/math"
 
 	"github.com/cosmos/cosmos-sdk/codec"
+	sdk "github.com/cosmos/cosmos-sdk/types"
 	mintkeeper "github.com/cosmos/cosmos-sdk/x/mint/keeper"
 )
 
@@ -80,6 +81,15 @@ func (k *Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
 	}
 }
 
+func (k *Keeper) GetShareHolders(ctx context.Context) []*types.StakeHolders {
+	params, err := k.Params.Get(ctx)
+	if err != nil {
+		panic(err)
+	}
+
+	return params.StakeHolders
+}
+
 // IsManualMintingEnabled returns nil if inflation mint is 0% (disabled)
 func (k Keeper) IsManualMintingEnabled(ctx context.Context) error {
 	minter, err := k.mintKeeper.Minter.Get(ctx)
@@ -94,3 +104,25 @@ func (k Keeper) IsManualMintingEnabled(ctx context.Context) error {
 
 	return ErrManualMintingDisabled.Wrapf("inflation: %s", minter.Inflation.String())
 }
+
+// Returns the amount of coins to be distributed to the holders
+func (k Keeper) CalculateShareHolderTokenPayout(ctx context.Context, c sdk.Coin) map[string]sdk.Coin {
+	sh := k.GetShareHolders(ctx)
+
+	pairs := make(map[string]sdk.Coin, len(sh))
+
+	// iter each stakeholder, get their percent of the total 100%, and then split up their amount of coin cost
+	for _, s := range sh {
+		pct := sdkmath.NewInt(int64(s.Percentage)).ToLegacyDec().QuoInt64(types.MaxPercentShare)
+		coinAmt := pct.MulInt(c.Amount).RoundInt()
+
+		if coinAmt.IsZero() {
+			// too small of an amount to matter (< 1 utoken)
+			continue
+		}
+
+		pairs[s.Address] = sdk.NewCoin(c.Denom, coinAmt)
+	}
+
+	return pairs
+}
diff --git a/x/manifest/keeper/msg_server_test.go b/x/manifest/keeper/msg_server_test.go
index 0666cf4..070a7e2 100644
--- a/x/manifest/keeper/msg_server_test.go
+++ b/x/manifest/keeper/msg_server_test.go
@@ -3,12 +3,66 @@ package keeper_test
 import (
 	"testing"
 
+	sdkmath "cosmossdk.io/math"
 	"github.com/cosmos/cosmos-sdk/testutil/testdata"
 	"github.com/liftedinit/manifest-ledger/x/manifest/keeper"
 	"github.com/liftedinit/manifest-ledger/x/manifest/types"
 	"github.com/stretchr/testify/require"
+
+	sdk "github.com/cosmos/cosmos-sdk/types"
 )
 
+func TestCalculatePayoutLogic(t *testing.T) {
+	_, _, authority := testdata.KeyTestPubAddr()
+	_, _, acc := testdata.KeyTestPubAddr()
+	_, _, acc2 := testdata.KeyTestPubAddr()
+	_, _, acc3 := testdata.KeyTestPubAddr()
+	_, _, acc4 := testdata.KeyTestPubAddr()
+
+	f := initFixture(t)
+
+	k := f.App.ManifestKeeper
+
+	k.SetAuthority(f.Ctx, authority.String())
+	ms := keeper.NewMsgServerImpl(k)
+
+	sh := []*types.StakeHolders{
+		{
+			Address:    acc.String(),
+			Percentage: 50_000_000, // 50%
+		},
+		{
+			Address:    acc2.String(),
+			Percentage: 49_000_000,
+		},
+		{
+			Address:    acc3.String(),
+			Percentage: 500_001, // 0.5%
+		},
+		{
+			Address:    acc4.String(),
+			Percentage: 499_999,
+		},
+	}
+
+	_, err := ms.UpdateParams(f.Ctx, &types.MsgUpdateParams{
+		Authority: authority.String(),
+		Params:    types.NewParams(sh),
+	})
+	require.NoError(t, err)
+
+	// validate the full payout of 100 tokens got split up between all fractional shares as expected
+	res := k.CalculateShareHolderTokenPayout(f.Ctx, sdk.NewCoin("stake", sdkmath.NewInt(100_000_000)))
+	for _, s := range sh {
+		for w, coin := range res {
+			if s.Address == w {
+				require.EqualValues(t, s.Percentage, coin.Amount.Int64())
+			}
+		}
+	}
+
+}
+
 func TestUpdateParams(t *testing.T) {
 	_, _, authority := testdata.KeyTestPubAddr()
 	_, _, acc := testdata.KeyTestPubAddr()
diff --git a/x/manifest/types/params.go b/x/manifest/types/params.go
index 0889103..9bd27cd 100644
--- a/x/manifest/types/params.go
+++ b/x/manifest/types/params.go
@@ -7,7 +7,7 @@ import (
 
 const (
 	// uses a precision of 6 decimal places.
-	maxPercentShare = 100_000_000
+	MaxPercentShare = 100_000_000
 )
 
 // DefaultParams returns default module parameters.
@@ -47,8 +47,8 @@ func (p Params) Validate() error {
 		total += int64(sh.Percentage)
 	}
 
-	if total != maxPercentShare {
-		return fmt.Errorf("stakeholders should add up to %d, got %d", maxPercentShare, total)
+	if total != MaxPercentShare {
+		return fmt.Errorf("stakeholders should add up to %d, got %d", MaxPercentShare, total)
 	}
 
 	seen := make(map[string]struct{})