Evenglade Corp Has 1,000 Shares Outstanding Priced at $10 a Share.The

question 13

Multiple Choice

Evenglade Corp has 1,000 shares outstanding priced at $10 a share.The company is unsure whether to pay out $1 a share as a dividend or to use the money to repurchase stock.If it pays a dividend,what happens to the stock price? If it repurchases,how many shares will remain and at what price?

• A) After the dividend payment stock price falls to $9. If Evenglade repurchases, 900 shares remain and the share price falls to $9.
• B) After the dividend payment stock price falls to $9. If Evenglade repurchases, 800 shares remain and the share price stays at $10.
• C) After the dividend payment stock price falls to $9. If Evenglade repurchases, 900 shares remain and the share price stays at $10.
• D) After the dividend payment stock price stays at $10. If Evenglade repurchases, 900 shares remain and the share price rises to $11.11.

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