The Limberger Corporation Declared a Quarterly Dividend of $0

question 16

Multiple Choice

The Limberger Corporation declared a quarterly dividend of $0.10 per share. The ex- dividend date was July 15, the date of record was July 18, and the payment date was July 28. If you had owned 100 shares of the Limberger Corporation and sold them on July 15, then

• A) you would collect $10.00 in dividends, and the purchaser would not collect any dividends.
• B) the purchaser would collect $10.00 in dividends, and you would not collect any dividends.
• C) you would collect $5.00 in dividends, and the purchaser would collect $5.00 in dividends.
• D) neither you nor the purchaser would collect any money in dividends.

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