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The Rent It Company declared a dividend of $.60 a share on October 20th to holders of record on Monday, November 1st (i.e., the Record
The Rent It Company declared a dividend of $.60 a share on October 20th to holders of record on Monday, November 1st (i.e., the Record Date is Monday, November 1st). The dividend is payable on December 1st. You purchased 100 shares of Rent It Company stock on Thursday, October 28th and another 100 shares on Friday, October 29th. How much dividend income will you receive on December 1st from the Rent It Company? *HINT: Weekends (Saturday and Sunday) are not business days. $0 $1.50 $6.00 $120.00 $60.00
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