On June 1 a new company issued 100,000 shares of $1 par value common stock for cash at $5 per share.   On June 10 the same new company issued 50,000 shares of $1 par value common stock for cash at $7 per share.   On July 3 this company repurchased 20,000 shares of its $1 par value common stock with cash at $10 per share.   On September 1 this company announced cash dividends of 20¢ per share to all common stock outstanding, payable on September 30.  The ex-dividend date is September 13 and the record date is September 17.   What is the amount of dividends paid on Sept. 17?

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Q: None

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A:

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