Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Shareholders of XYZ Company will be smiling all the way to the bank following an announcement of a dividend of 8 pesewas per share to

Shareholders of XYZ Company will be smiling all the way to the bank following an announcement of a dividend of 8 pesewas per share to all shareholders in respect of the 2014 financial year. The announcement was made on March 1, 2015 and the dividend is expected to be approved by investors at the company's Annual General Meeting scheduled for March 27, 2015. In this regard, members registered in the books of XYZ at the close of business on March 23, 2015 will qualify for the payment of the final dividend. The ex-dividend date has however been set as Friday March 20, 2015. The final dividend will be paid on March 30, 2015. XYZ is presently trading at GHS 3.13 per share on the Ghana Stock Exchange. Given that the GSE rules provide that all transactions on the floor of the exchange must go through the books of the firm by the close of business on the third working day following the transaction, what is the last date on which to buy the shares in other to receive the dividends announced? What is the last day on which to sell your shares if yo

image text in transcribed

u do not wish to receive these dividends?

Shareholders of XYZ Company will be smiling all the way to the bank following an announcement of a dividend of 8 pesewas per share to bll shareholders in respect of the 2014 financial year. ne announcement was made on March 1, 2015 and the dividend is expected to be approved by investors at the company's Annual General Meeting scheduled for March 27, 2015. In this regard, members registered in the books of XYZ at the close of business on March 23, 2015 will qualify for the payment of the fina dividend. The ex-dividend date has however been set as Friday March 20, 2015. The final dividend will be paid on March 30, 2015. XYZ is presently trading at GHS 3.13 per share on the Ghana Stock Exchange Given that the GSE rules provide that all transactions on the floor of the exchange must go through the books of the firm by the close of business on the third working day following the transaction, what is the last date on which to buy the shares in other to receive the dividends announced? What is the last day on which to sell your shares if you do not wish to receive these dividends

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Of Capital In Managerial Finance

Authors: Dennis Schlegel

2015th Edition

3319151347, 978-3319151342

More Books

Students also viewed these Finance questions