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20 August, 09:29

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

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  1. 20 August, 11:17
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    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
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