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

Question

3 years ago

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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

Business

1 answer:

My name is Ann [436] · Answer 1 · 2022-05-11T17:59:25+03:00

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.