13. Dividends are distributed to investors on dividend a. declaration date b. ex-dividend date c. record date d. payment date 14. When a firm purchase a given number of shares at the current market price, the company is engaging in a. open market purchase b. tender offer c. stock split d. initial public offering 15. When a firm makes a formal announcement that it is buying a specified number of company's shares at a stated price, it is engaging in a. open market purchase b. tender offer c. stock split d. initial public offering current market 16. Tender offer is generally done price of the stock a. above b. at the same price as c. below d. depends on interest rates 17. The next ex-dividend date for Ralph Lauren (RL) stock is March 29h. If an investor buys RL on March 30h, he/she a. will receive the dividend b. will not receive the dividend c. may or may not receive the dividend, depending on market conditions. d. may or may not receive the dividend, depending on the company policy 18. The record date for Vail Resorts (MTN) is Wednesday March 29h. What is MTN's ex-dividend date? a. Monday, March 27 b. Tuesday, March 28 c. Thursday, March 30 d. Friday, March 31