Question

Michelle Smith bought 30 shares of James Company stock at $34 per share. The company paid annual dividends of $0.42 per share. What is the total annual dividend? Show work

A) 9.78
B) 12.60
C) 1.69
D) 11.97

Answer 1

The right option is B) 12.60

Explanation:

We have given,

Number of shares = 30

Cost of each share = $34

Total cost of shares = 30 × 34 = $1020

Since the company paid annual dividends of $0.42 per share.

i.e Total annual dividend company paid = 0.42 × 30

Total annual dividend company paid = $ 12.60

Hence the right option is B) 12.60