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  3. you purchased 500 shares of abc stock on may 8. on

You purchased 500 shares of ABC stock on May 8. On May 16, you purchased...

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Accounting

You purchased 500 shares of ABC stock on May 8. On May 16, you purchased another 200 shares and then on May 20 you purchased a final 100 shares of ABC stock. The company declared a dividend of $.94 a share on May 6 to holders of record on Friday, May 22. The dividend is payable on June 12. Assume it takes 2 business days to clear the transactions of ABC stock (i.e. T+2), how much dividend income will you receive on June 12? Please show your work. A) $752 B) $640 C) $658 D) $728 E) $680

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