You own 400 shares of Cardinal Inc., whose Board of Directors has just declared a quarterly dividend of $0.15 per share. How much will you receive when the dividend is paid?

To determine the total amount you will receive from the dividend payment, you need to multiply the number of shares you own by the dividend amount per share. In this scenario, you own 400 shares of Cardinal Inc., and the declared dividend is $0.15 per share.

Calculating the total dividend income involves the following steps:

1. Take the number of shares: 400.

2. Multiply this by the dividend per share: 0.15.

So, the calculation would be:

400 shares × $0.15 per share = $60.00.

Thus, the total amount you will receive from the dividend payment is $60.00. This demonstrates how dividends work in relation to the stock ownership—more shares lead to a proportionate increase in dividend income.