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Steve Purchased 300 Shares of Alpha Beta Stock on May

Question 57

Multiple Choice

Steve purchased 300 shares of Alpha Beta stock on May 9.On May 15,he purchased another 300 shares and then on May 22 he purchased a final 400 shares of Alpha Beta stock.The company declared a dividend of $1.60 a share on April 30 to holders of record on Friday,May 23.The dividend is payable on June 2.How much dividend income will Steve receive on June 2 from Alpha Beta?


A) $0
B) $480
C) $960
D) $1,200
E) $1,600

Correct Answer:

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