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!
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