A stock quote indicates a stock price of $60 and a dividend yield of 3%. The latest quarterly dividend received by stock investors must have been _ per share. a. $1.80 b. $0.45 c. $0.55 d. $1.25

b. $0.45

Explanation:

The computation of the quarterly dividend received is as follows:

Provided that

Stock price = $60

Dividend yield = 3%

So, the dividend for a year

= Stock price * dividend yield

= $60 * 3%

= $1.8

And, the quarterly dividend received would be

= Annual dividend : number of the quarter in a year

= $1.8 : 4

= $0.45