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A corporation was paying a $2.10 annual dividend. The stock underwent a 3-for-2 split. What is the new annual dividend per share?

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Cricetusidn

Answer:

The right solution is "$1.4". A further explanation is given below.

Step-by-step explanation:

The given values are:

The annual dividend the corporation paying,

= $2.10

It underwent,

= 3 for 2 split

So that the no. of share increased by multiplying factor,

= [tex]\frac{3}{2}[/tex]

Now,

The annual dividend per share will be:

= [tex]2.10\times \frac{2}{3}[/tex]

= [tex]\frac{4.2}{3}[/tex]

= [tex]1.4[/tex] ($)

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