17. Hanna owns 100 shares of stock. Each share entitles her to one vote per open

Question

17. Hanna owns 100 shares of stock. Each share entitles her to one vote per open seat on the board of directors. Assume there are three open seats in the current election and Hanna casts all 300 of her votes for a single candidate. What is the term used to describe this type of voting? A. Proxy B. Aggregate C. Cumulative D. Straight E. Communicate 18. Given the following partial stock quote, what is the expected annual dividend? PE Ratio Close Price $38.15 Net Chg 0.08 Div Yld % Stock (Div) Clear Water 2.6% 9.5 A. $0.99 B. $1.08 C. $1.13 D. $1.28 E. $1.33

Explanation / Answer

17. Answer C: Cumulative voting is where the voter is allowed a number of votes and they may give all the votes to one candidate or divide them among several candidates.

18.

Dividend Yield = Annual Dividend/Current Stock Price Annual Dividend = Dividend Yield * Current Stock Price = 0.026*38.15 = $0.99

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