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3 years ago

9

Cork inc. declared a $160,000 cash dividend. it currently has 6,000 shares of 6%, $100 par value cumulative preferred stock outs

tanding. it is one year in arrears on its preferred stock. how much cash will cork distribute to the common stockholders?

1 answer:

BaLLatris [955]3 years ago

3 0

Cork has to pay preferreds first. Owe 6000 x 6 or 36,000 to preferred holders. So 160k - 36k = $124k left for common.

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