You own 170 shares of stock in Halestorm, Incorporated, that currently sells for $82.30 per share. The company has announced a dividend of $3.00 per share with an ex-dividend date of February 4. Assuming no taxes, what is the value of the stock on February 4?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 14P
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You own 170 shares of stock in Halestorm, Incorporated, that currently sells for $82.30 per share. The company has announced a dividend of $3.00 per share with an ex-dividend date of February 4. Assuming no taxes, what is the value of the stock on February 4?

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