On Wednesday, May 3, 2017, Martin Manufacturing Co.’s board of directors declared a dividend of 75 cents per share payable on Thursday, June 22, 2017, to shareholders of record as of Monday, June 12, 2017.

a) When is the ex-dividend date?

b) If a shareholder buys stock before that date (date in part a), who gets the dividends on those shares, the buyer or the seller?

c) If a shareholder buys stock on that date, (date in part a), who gets the dividends on those shares, the buyer or the seller?

d) If a shareholder buys stock after that date, (date in part a), who gets the dividends on those shares, the buyer or the seller?