Seven months ago, you purchased 140 shares of Mitchum Trading for $50.07 per share. The stock pays a quarterly dividend of $.17 per share and is currently priced at $51.03. What is the total dividend income you received

The answer is $47.6

Explanation:

Solution

Given that

You bought = 140 shares of Mitchum Trading for $50.07 per share

The quarterly dividend = $.17

The current price = $51.03

So we find the total dividend income you received which is computed below:

The total dividend received = (0.17 * 2) * 140

= (0.34) * 140

= $47.6

Therefore the total dividend of income that you received is $47.6