Sandra Gray owns 800 shares of Steel & Fittings Corporation. At the annual dividend meeting, a dividend payment of $1.05 was declared to be paid on September 30 to all the holders of record as at September 9.
a. What is the amount of the dividend Sandra would receive on September 30?
b. If Sandra increased her stockholding to 900 shares on September 10, what is the amount of the dividend she would receive on September 30?
c. What effect does declaring this dividend have on stock prices on September 7?
d. If Sandra sold 200 shares for a total of $1,000 on September 15, what is the amount of the dividend she would receive on September 30?