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Svetllana [295]
4 years ago
10

A corporation has 12 comma 000 shares of 10​%, $ 102.00 par noncumulative preferred stock outstanding and 28 comma 000 shares of

nominuspar common stock outstanding. At the end of the current​ year, the corporation declares a dividend of $ 220 comma 000. What is the dividend per share for preferred stock and for common​ stock? ​(Round your answer to the nearest​ cent.)
Business
1 answer:
Gnesinka [82]4 years ago
5 0

Answer:

preferred 10.2 per share

common 3.49 per share

Explanation:

the preferred stock will receive their dividends firsht:

12,000shares  x $102 each x 12% return = 122.400‬

$122,400/12,000 shares = $10.2 per share

<em>available for common stock:</em>

220,000 declared dividends - 122,400 preferred=  97,600

$97,600 / 28,000 common stock = 3,4857 = $ 3.49

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Drupady [299]

Answer:

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