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QUESTION - DIVIDEND POLICY AND SHORT-TERM FINANCIAL PLANNING - JKS Manufacturing Company Limited has a dividend reinvestment programme for shareholders. The share prices and dividends paid over the past five years are shown in the table below.
Year
Share Price After Dividend
Dividend per Share
2016
$28.00
$2.50
2017
$30.75
$2.75
2018
$35.15
$3.00
2019
$40.50
$3.50
2020
$41.25
$4.00
At the end of 2016 you agreed to participate fully in JKS Manufacturing Company Limited's DRIPs programme. At that time, you had 100 shares of stock with a market price per share of $46.
Answer the following questions:
1. At the end of 2020 how many shares of stock would you have in JKS Manufacturing Company Limited.
2. What will be the total value of your shares in JKS Manufacturing Company Limited at the end of 2020?
3. Provide a brief description of the following terms:
i. Spontaneous short-term financing
ii. Working Capital
4. Identify and describe TWO major sources of spontaneous short-term financing.
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