Davidson Interiors declared a dividend to holders of record on Thursday, October 15, that is payable on Monday, November 2.Suenette purchased 200 shares of Davidson Interiors stock on Monday, October 12, and Jake purchased 100 shares of this stock on the following day.Which one of the following statements is correct given this information?
A)Both Suenette and Jake will receive this dividend.
B)Suenette will receive the dividend but Jake will not.
C)Jake will receive the dividend but Suenette will not.
D)Neither Suenette nor Jake will receive this dividend.
E)You cannot determine who will or will not receive this dividend based on the information provided.

Question

Quizplus · Accepted Answer

Suenette purchased the shares before the ex-dividend date, which is typically one business day before the record date, so she will receive the dividend. Jake purchased the shares on the ex-dividend date or later, so he will not receive the dividend.

Davidson Interiors Declared a Dividend to Holders of Record on Thursday