last year Mike bought 100 shares of Dallas corporation common stock for $52 per share. during...
last year Mike bought 100 shares of Dallas corporation common stock for $52 per share. during the year he received dividend of $0.48 per share. the stock is currently selling for $60 per share. what rate of return did mike earn over the year?
Homework Answers
Purchase Price per share = $52.00
Dividend Received per share = $0.48
Selling Price per share = $60.00
Rate of Return = (Selling Price per share + Dividend Received
per share - Purchase Price per share) / Purchase Price per
share
Rate of Return = ($60.00 + $0.48 - $52.00) / $52.00
Rate of Return = $8.48 / $52.00
Rate of Return = 0.1631 or 16.31%
So, Mike earned a rate of return of 16.31% over the year.
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