HiTec Is Growing Fast and Wishes to Retain All Its

question 52

Multiple Choice

HiTec is growing fast and wishes to retain all its earnings to finance future growth.Instead of a cash dividend, HiTec declares a 10 percent stock dividend.If the price per share of HiTec stock is $30 before the ex-dividend date, what will be the price on the ex-dividend date?

• A)$27.27
• B)$27.94
• C)$33.00
• D)$27.00

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