Given the following partial stock quote, what is the amount of the next annual dividend if yesterday's closing price was $32.60?

Question

Quizplus · Accepted Answer

The information we need to solve this question is the dividend yield (%) indicated by the partial stock quote, which is given by "TB2378_00". To find the dividend yield, we divide the annual dividend by the closing price:
Dividend yield = (Annual dividend / Closing price) x 100%
Since we are looking for the next annual dividend, we can assume that the dividend payment frequency is yearly. Therefore, the annual dividend is equal to the dividend yield multiplied by the closing price:
Annual dividend = Dividend yield x Closing price / 100%
Substituting the given values, we get:
Annual dividend = 3.40% x $32.60 / 100% = $1.1084
Rounding to the nearest cent, we get $1.11, which is answer choice B.

Given the Following Partial Stock Quote, What Is the Amount