Josh Purchased 100 Shares of XOM at the Beginning of 2016

question 36

Multiple Choice

Josh purchased 100 shares of XOM at the beginning of 2016. He received dividends per share of $1.37 (2016) , $1.55 (2017) , $1.66 (2018) , $1.74 (2019) , $1.85 (2020) . At the end of 2020, just after receiving the last dividend, he sold the stock for $84.76. At what rate did the dividends grow from the end of 2016 to the end of 2020? Assume that all dividends were received at the end of the year.

• A) 7.8%
• B) 6.2%
• C) 13.1%
• D) 35%

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