A man owns 50 shares of stock worth $30 each. The corporation declared a dividend of 6% payable in stock. How many shares did he then own?

Question

asked Oct 8, 2023 214k views

1 Answer

Shaharg · Answer 1 · 2023-10-14T16:32:02+0000

Answer:53 shares

Explanation:

If we assume the price remained constant, then the number of shares increased by 6%.

(50 shares)(1 +6%) = 53 shares

The man then owned 53 shares