Question

James hayes owns 510 shares of ohio utility preferred stock. if this preferred stock issue pays $3.50 per share, what is the total dollar amount mr. hayes will receive in one year?

Answer 1

James Hayes will receive a total of $1,785 from his 510 shares of preferred stock at $3.50 per share over the course of one year.

Step-by-step explanation:

To calculate the total dollar amount Mr. James Hayes will receive in one year from his preferred stock, we can simply multiply the number of shares he owns by the amount paid per share. Mr. Hayes owns 510 shares of Ohio Utility preferred stock. The preferred stock issue pays $3.50 per share.

The total annual payment can be calculated as follows:

Total annual payment = Number of shares × Payment per share
Total annual payment = 510 × $3.50
Total annual payment = $1,785

Thus, Mr. Hayes will receive a total of $1,785 from his 510 shares of preferred stock over the course of one year.

Answer 2

The total amount of the dividends that Mr. James Hayes will receive in one year is $1785 total dividend.
The formula to get the total dividend is simply multiply the shares by stock issue per share. In this question we have 510 shares and stock issue pay $3.50 per share.
$3.50 per share * 510 shares = $1785 Total dividends