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Sergio [31]
3 years ago
9

Sunland Company, has 14700 shares of 4%, $100 par value, cumulative preferred stock and 60200 shares of $1 par value common stoc

k outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $113000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021
Business
1 answer:
Archy [21]3 years ago
3 0

Answer:

2021 Common Stockholders dividends = $49,600

Explanation:

Preference Shareholders are always paid their dividends first before Common Stockholders. If dividend is not declared, Preference dividends are cumulated to the next period and are due !

<u>2019</u>

Preferred Stockholders Dividends = 14700 x $100 x 4% = $58,800

Common Stockholders dividends = $ 0

<u>2020</u>

Preferred Stockholders Dividends =  $58,800 (2019) + $54,200 (2020)

Common Stockholders dividends = $0

<u>2021</u>

Preferred Stockholders Dividends = $4,600 (2020 arrears) + $58,800 (2021) = $63,400

Common Stockholders dividends = $113,000 - $63,400 = $49,600

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