Ex-dividend share price be after this transaction

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Reference no: EM131816059

After the market close on May 11, 2001, Adaptec, Inc., distributed a dividend of shares of the stock of its software division, Roxio, Inc. Each Adaptec shareholder received 0.1606 share of Roxio stock per share of Adaptec stock owned. At the time, Adaptec stock was trading at a price of $ 10.55 per share (cum-dividend), and Roxio's share price was $ 14.23 per share. In a perfect market, what would Adaptec's ex-dividend share price be after this transaction The ex-dividend share price would be [ ] per share. (Round to the nearest cent.)

Reference no: EM131816059

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