Multiple Choice
Schaeffer Shippers announced on May 1 that it will pay a dividend of $1.20 per share on June 15 to all holders of record as of May 31st.The firm's stock price closed today at $42 a share.Assume all investors are in the 22 percent tax bracket.If tomorrow is the ex-dividend date,what would you expect the opening price to be tomorrow morning assuming all else is held constant?
A) $42.00
B) $43.20
C) $41.06
D) $42.94
E) $41.66
Correct Answer:
Verified
Correct Answer:
Verified
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