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Ignoring commission, 250 shares of Kim's Kandies (KKK) were purchased for $10,850 at the close for the...

5. Ignoring commission, 250 shares of Kim's Kandies (KKK) were purchased for $10,850 at the close for the week. Calculate the close price for the week. Then find the quarterly dividend payment per share if the annual amount paid was $2.60.
A) $13.95; $0.11
B) $4.30; $0.03
C) $3.40; $0.08
D) $2.60; $0.03

Answer

  1. To calculate the close price for the week, divide the total amount paid by the number of shares:
    Close Price = $10,850 / 250 = $43.40

  2. To find the quarterly dividend payment per share, divide the annual dividend by 4:
    Quarterly Dividend = $2.60 / 4 = $0.65

  3. The correct answer is not listed in the options provided.

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