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?
a. $0.47
b. $47
c. $94
d. $103.40

Answer : The correct option is, (D) $103.40

Explanation :

Dividend : It is defined as the payment of a periodic amount against the money invested by the stockholders of the company.

That means,

Total amount of dividend = Number of shares x Dividend paid per share

Given:

Number of shares = 220

Dividend paid per share = $0.47

So,

Total amount of dividend = Number of shares x Dividend paid per share

Total amount of dividend   = 220 x $0.47

Total amount of dividend   = $103.40

Thus, the total amount she received in her dividend check for this quarter is, $103.40