Question

Bryant Peters bought 75 shares of Elkston stock for $24.13 per share. The company paid annual dividends of $0.29 per share. What is the total annual dividend? Show work.

A) 32.10
B) 21.99
C) 21.75
D) 22.00

Answer 1

The right option is C) 21.75

Explanation:

we have given,

Number of shares = 75

Cost of each share = $24.13

Total cost of shares = 75×24.13 = $1809.75

since the company paid annual dividends of $0.29 per share.

Total annual dividends company paid = 75×0.29 = $21.75

Hence the right option is C) 21.75