Blue Jays Corp. declared a dividend of $1.10 per share on Wednesday July 4, payable on Thursday August 16 to shareholders of record as of Thursday August 9. You will buy 1,000 shares of the Blue Jays Corp. on Tuesday August 7 while your best friend plans to sell 500 shares on Wednesday August 8.

1. Will you receive a dividend? If so, how much will you receive? Briefly explain.
2. Will your best friend receive a dividend? If so, how much will they receive? Briefly explain.

Problem 6 (4 marks) Blue Jays Corp. declared a dividend of $1.10 per share on Wednesday July 4, payable on Thursday August 16 to shareholders of record as of Thursday August 9. You will buy 1,000 shares of the Blue Jays Corp. on Tuesday August 7 while your best friend plans to sell 500 shares on Wednesday August 8. Announcement Date July 4 Ex-dividend Holder-of-Record Payment - Date 42 business days Date Date Tuesday Aug. 7 Thursday Aug. 9 Thursday Aug. 164 a) Will you receive a dividend? If so, how much will you receive? Briefly explain. b) Will your best friend receive a dividend? If so, how much will they receive? Briefly explain