Jameis owns 100 shares of ACME Inc.The firm has a quarterly dividend policy of $0.50 per share or the option to reinvest the cash dividends into additional shares of company stock.If the stock is selling for $108.00 per share ex-dividend,how many shares of stock will Jameis receive in the next dividend period if he chooses the dividend reinvestment plan?
A) 1.66 shares
B) 1.25 shares
C) 0.46 shares
D) 0.21 shares
Correct Answer:
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