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25 March, 15:57

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

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  1. 25 March, 17:25
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    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.
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