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The Rent It Company declared a dividend of $.60 a share on October 20th to holders of record on Monday, November 1st. The dividend is payable on December 1st. You purchased 100 shares of this stock on Wednesday, October 27th. How much dividend income will you receive on December 1st as a result of this declaration

Respuesta :

Answer:

the dividend income that should be received is $60

Explanation:

The computation of the dividend income is shown below:

= Dividend per share × number of shares of the stock purchased

= $0.60 × 100 shares

= $60

hence, the dividend income that should be received is $60

Basically we applied the above formula so that the correct value could come

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