Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price each share was N3 cum. div. This means that Aliyu

Assessment: JAMB UTME - Commerce - 1999 Subject: Commerce

Question 1 Report

Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price each share was N3 cum. div. This means that Aliyu
Answer Details
"Cum. Div." is an abbreviation used in the stock market to indicate that the buyer of the shares will be entitled to receive any dividends declared and paid for that financial year. In this case, Aliyu bought 100 shares at the stock market for N3 per share cum. div., meaning that he purchased the shares with the right to receive any dividends declared and paid for that financial year. Therefore, the correct option is: Aliyu is entitled to the next dividends due to the shares.
Read lesson note on Stock Exchange (JAMB)
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