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What should happen to Quality stock price on May

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Reference no: EM132613185

Question - Quality Shippers announced that on May 1, 2020, that it will pay a dividend of $5.00 per share on June 15 to all holders on record as of May 31. The firm's stock price is currently at $70 per share. Assume that all investors are in the 33% tax bracket. Given that the ex-dividend date is May 29, what should happen to Quality's stock price on May 29?

Reference no: EM132613185

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