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Cash needed to pay dividend

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5. Stephanie's Café, Inc. has declared a dividend of$1.30 per share for shareholders of record on Tuesday, May 2. The firm has 200,000 shares outstanding and will pay the dividend on May 24. How much cash will be needed to pay the dividend? When will the stock begin selling ex dividend?

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Solution Summary

The solution explains how to calculate the amount of cash needed to pay dividends.