How many new shares of stock will receive

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Eric Nadel owns 200 shares of? Ranger, Inc. The? company's board of directors recently declared a cash dividend of ?$1.92 a share payable April 13 ?(a Wednesday) to shareholders of record on March 17 ?(a Thursday).

Problem a. How much in? dividends, if? any, will Eric receive if he sells his stock on March 16??

Problem b. Assume Eric decides to hold on to the stock rather than sell it. If he belongs to the? company's dividend reinvestment? plan, how many new shares of stock will he receive if the stock is currently trading at ?$46.60 and the plan offers a 4.4% discount on the share price of the? stock? (Assume that all of? Eric's dividends are diverted to the? plan.) Will Wilfred have to pay any taxes on these? dividends, given that he is taking them in stock rather than? cash?

Reference no: EM132838329

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