Beryl Corporation Has 15 Million Common Shares Outstanding Trading on October

Multiple Choice

Beryl Corporation has 15 million common shares outstanding trading on October 1 at a cum dividend price of $22.15 a share. Its EPS at that time, the end of the third quarter, is $1.80 per share. If the ex dividend price drops to $21.95 on Oct. 2, what dividend was declared?

A) No dividend was necessarily declared.
B) $2.7 million
C) $3 million
D) $27 million
E) $30 million