4. If I own 10 ITM shares and if 10 board members are to be elected, under cumulative voting I can cast a maximum of... in favor of one nominee. 5. ITM pays a $0.90 per share dividend every quarter. For the current quarter, the holder- of-record date is Monday, November 29. What is the ex-dividend date? 6. If a perpetual preferred stock pays a $1.50 in dividend every year, what is the value of this stock assuming a required rate of 9%2 7. Energy Inc. is expected to pay a dividend of $3.20 per share next year and the dividend growth rate is expected to be 4%. How much is one Energy stock worth if the required rate is 11%