Josh purchased 100 shares of XOM at the beginning of 2011. He received dividends per share of $1.37 (2011), $1.55 (2012), $1.66 (2013), $1.74 (2014), $1.85 (2015)
At the end of 2015, just after receiving the last dividend, he sold the stock for $84.76. At what rate did the dividends grow from the end of 2011 to the end of 2015? Assume that all dividends were received at the end of the year.
A) 7.8%
B) 6.2%
C) 13.1%
D) 35%
Answer: A
Business
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