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You own 280 shares of stock in Halestorm, Inc., that currently sells for $83.95 per share. The company has announced a dividend of $3.55 per share with an ex-dividend date of February 4. Assuming no taxes, what is the value of the stock on February 4

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Tundexi

Answer:

$22,512

Explanation:

The stock price is expected to drop by exactly the amount of the dividend with no taxes, so the new stock price will be:

New stock price = $83.95 - $3.55

New stock price = $80.40

The total stock investment will be worth:

Stock value = 28 shares * New stock price

Stock value = 280 shares * $80.40

Stock value = $22,512

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