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AKD Corporation has 200,000 share of $20 par common stock outstanding. On 18 February 2021,...

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Finance

AKD Corporation has 200,000 share of $20 par common stock outstanding. On 18 February 2021, AKD Corporation has declared a $5 dividend per share. It is known that the ex-dividend date would be on 20 May 2021, and the payment date would be on 31 May 2021. The lot size of the common stock is 100, and the market price of each share is $200.

Peter has purchased 3 lots of the AKD Corporation common stock on 20 February 2021. He would sell 2 lots of it on 18 May 2021, and sell the remaining shares on 20 May 2021. Discuss with not more than 100 words that whether he can get any dividend on the payment date (31 May 2021). If he can get the dividend, calculate how much it is.

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