Microsoft's Dividend. In January 2003, Microsoft announced that it would begin paying a dividend of 50.11 per share. Given the following share prices for Microsoft stock in the recent past, how would a constant dividend of $0.11 per share per year have changed the company's return to its shareholders over this period? (Click on the icon to import the table into a spreadsheet.) First day of trading Closing share price 1998 (January 2) $131.13 1999 (January 4) $141.00 2000 (January 3) $116.56 2001 (January 2) $43.38 2002 (January 2) $67.04 2003 (January 2) $53.72 Calculate the shareholder return for each period without and with dividend below (Round to two decimal places.) If Dividend Closing Share Price Return Without Dividend Return With Dividend Paid Date 1998 (January 2) 1999 (January 4) $ 131.13 141.00 $ 0.11 b/1) Problem 4-5 (algorithmic) Question Help Microsoft's Dividend. In January 2003, Microsoft announced that it would begin paying a dividend of $0.11 per share. Given the following share prices for Microsoft stock in the recent past, how would a constant dividend of $0.11 per share per year have changed the company's return to its shareholders over this period? (Click on the icon to import the table into a spreadsheet.) First day of trading Closing share price 1998 (January 2) $131.13 1999 (January 4) $141.00 2000 (January 3) $116.56 2001 (January 2) $43.38 2002 (January 2) $67.04 2003 (January 2) $53.72 D/1) Date Share Price Paid Dividend Dividend 1998 (January 2) $ 131.13 1999 (January 4) 141.00 5 0.11 7.53 % 7.61 % 116.56 $ 2000 (January 3) 0.11 -17.33 % -17 26% 2001 (January 2) 43 38 $ 0.11 -62.78 % -62 69 % 2002 (January 2) 6704 $ 0.11 54.79 % 54.54 % -19.87 % 2003 (January 2) 0.11 -1970 % 53.72 5 The arithmetic average shareholder return for the period 1998-2003 without dividend is -7 58% (Round to two decimal places.) The arithmetic average shareholder return for the period 1998-2003 with dividend is % (Round to two decimal places.)