The company has declared a dividend of dollar 1.40 per share. The stock goes ex

Question

The company has declared a dividend of dollar 1.40 per share. The stock goes ex dividend tomorrow. Ignoring any tax effects, what is the stock selling for today? (Round your answer to 2 decimal places, (e.g., 32.16)) Ignoring any tax effects, what will it sell for tomorrow? (Round your answer to 2 decimal places, (e.g., 32.16)) Ignoring any tax effects, what will the balance sheet look like after the dividends are paid? The balance sheet for Chevelle Corp. is shown here in market value terms. There are 9,000 shares of stock outstanding.

Explanation / Answer

Price today = 353,700 / 9,000 = $39.3

Price tomorrow = 39.3

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