The Rent It Company declared a dividend of $.55 a share on October 20^th to holders of record on Monday,November 1^st.The dividend is payable on December 1^st.You purchased 100 shares of Rent It Company stock on Wednesday,October 27^th.How much dividend income will you receive on December 1^st from the Rent It Company?

Question

Quizplus · Accepted Answer

To receive the dividend, you must be a shareholder on the record date, which is November 1st. Since you purchased the shares on October 27th, you are eligible for the dividend. With 100 shares and a dividend of $0.55 per share, you will receive $55.00.

The Rent It Company Declared a Dividend of