Rita Smith owns 220 shares of Jefferson Carpet Mills. For the last calendar quarter, Jefferson Carpet Mills paid a dividend of $0.47 a share. What is the total amount she received in her dividend check for this quarter?
To calculate the total amount Rita Smith received in her dividend check for this quarter, we need to multiply the dividend per share by the number of shares she owns.
Rita Smith owns 220 shares of Jefferson Carpet Mills, and the dividend per share is $0.47. Therefore, we can calculate the total amount she received as follows:
Total amount received = Dividend per share * Number of shares
= $0.47 * 220
= $103.40
Hence, Rita Smith received $103.40 in her dividend check for this quarter.