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The common stock of Patee International goes ex-dividend tomorrow. The stock closed at a price of $33.60 a share today. This quarter, the company is paying a cash dividend of $0.24 a share and a liquidating dividend of $0.60 a share. Ignoring taxes and assuming that all else is held constant, what will the ex-dividend price be tomorrow morning

Respuesta :

Answer:

$ 32.76

Explanation:

Given data:

Closing stock price per share = $ 33.60

Cash dividend paid = $ 0.24

Liquidating dividend per share = $ 0.60

Now,

the ex-dividend price tomorrow morning will be calculated as:

Closing stock price per share - Cash dividend paid - Liquidating dividend per share

on substituting the respective values, we get

ex-dividend price tomorrow morning =  $ 33.60 - $ 0.24 - $ 0.60

or

ex-dividend price tomorrow morning = $ 32.76

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