Us parcel inc has 5800 shares of stock outstanding and a, Ask an Expert

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US Parcel Inc has 5800 shares of stock outstanding and a current stock price of $15.50 per share. The company has no debt. The company is currently short on cash and announces that instead of a cash dividend they will pay the following stock dividend to all shareholders: one new share of stock for each 7 shares held. What will the new price per share if US Parcel be after the stock dividend goes into effect.

Place your answer in dollars and cents without the dollar sign.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92751254

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