In 2009 J. M. Smucker paid a regular quarterly dividend of $.35 a share.
a. Match each of the following sets of dates:
(A1) 17 July 2009 | (B1) Record date |
(A2) 11 August 2009 | (B2) Payment date |
(A3) 12 August 2009 | (B3) Ex-dividend date |
(A4) 14 August 2009 | (B4) Last with-dividend date |
(A5) 1 September 2009 | (B5) Declaration date |
b. On one of these dates the stock price is likely to fall by about the value of the dividend. Which date? Why?
c. Smucker’s stock price in August 2009 was $52. What was the dividend yield?
d. If earnings per share for 2009 are $4.56, what is the percentage payout rate?
e. Suppose that in 2009 the company paid a 10% stock dividend. What would be the expected fall in price?
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