JAMB Commerce 1999 Question 29

Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price of each share was ₦3 cum. div. This means that Aliyu

1. A.is entitled always to a cumulative dividend on the shares
2. B.is entitled to the next dividend accruing from the shares
3. C.will not be entitled to the next dividend due to the shares
4. D.still owes ₦3 on the shares which will be subtracted from the dividends.