Amos owns 1,200 share of Fasteners, Inc. stock. The stock closed today at $41.20 a share. Tomorrow, the firm will pay its annual dividend of $.70 a share. The tax rate on dividends is currently 15 percent with the tax being withheld at the time of payment. All else constant, what will the ex-dividend price of the stock be tomorrow morning?
This question was answered on: Sep 21, 2023
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