Ask Question
5 November, 14:25

On July 9, you purchased 600 shares of Blue Water stock for $32 a share. On August 4, you sold 100 shares of this stock for $33 a share. You sold an additional 100 shares on August 14 at a price of $34.50 a share. The company declared a dividend of $.76 per share on August 3 to holders of record as of Monday, August 17. This dividend is payable on September 15. How much dividend income will you receive on September 15? a. $304 b. $418 c. $380 d. $360 e. $456

+3
Answers (1)
  1. 5 November, 14:41
    0
    Answer:Dividend received = $380

    Explanation:

    Given:

    Dividend declared = $0.76

    Shares purchased = 600

    Shares sold = 100

    The dividend income we will receive on September 15 can be computed using the following formula:

    Dividend received = Dividend declared * (Shares purchased - Shares sold)

    = 0.76 * (600-100)

    = $380.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On July 9, you purchased 600 shares of Blue Water stock for $32 a share. On August 4, you sold 100 shares of this stock for $33 a share. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers