Question: Comtrak Inc. has a dividend reinvestment program for shareholders. Over the past 5 years, the company has had the following share prices and the following

Comtrak Inc. has a dividend reinvestment program for shareholders. Over the past 5 years, the company has had the following share prices and the following dividends.

Year/ Share Price after dividend / Dividend per share

2018 $58.00 $4.50

2019 $60.75 $4.75

2020 $65.25 $5.25

2021 $68.50 $6.50

2022 $70 $7.00

If you started with 100 shares of stock at $58 per share and participated fully in the DRIPS program, how many shares of stock would you have at the end of the 5 years, and what would be the total value of your shares?

Please show work. Thank you!

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!