Answer:
The dividends received by the preferred stockholders in 2017 is $24,300
Explanation:
The computation of the preferred stockholder dividend is shown below:
= Yearly dividend - dividend paid in 2016
where,
Yearly dividend = Number of shares × par value per share × rate
= 9,300 shares × $50 × 4%
= $18,600
And, the 2016 dividend is $12,900
Now put these values to the above formula
So, the value would equal to
= $18,600 - $12,900
= $5,700
So, the total dividend would be
= Year end dividend + last year dividend
= $18,600 + $5,700
= $24,300
Out of the $64,500, the $24,300 will be distributed to the preference shareholders and the remaining amount $402,00 would be distributed to the common stockholders
