Determine the annual dividend and the annual yield to the nearest hundredth of a percent.
Ella Franklin owns 325 shares of ITA stock. Purchase price was 37.85 per share dividends are 1.11 per share
To determine the annual dividend, you need to multiply the dividend per share by the number of shares owned.
Annual dividend = Dividend per share * Number of shares
In this case, the dividend per share is $1.11 and the number of shares owned is 325.
Annual dividend = $1.11 * 325 = $360.75
Therefore, the annual dividend is $360.75.
To determine the annual yield, you need to divide the annual dividend by the purchase price per share and then multiply by 100 to get the percentage.
Annual yield = (Annual dividend / Purchase price per share) * 100
In this case, the annual dividend is $360.75 and the purchase price per share is $37.85.
Annual yield = ($360.75 / $37.85) * 100 = 953.9715335
Rounding to the nearest hundredth of a percent, the annual yield is approximately 954.97%.