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iVinArrow [24]
3 years ago
8

Pug Corporation has 11,000 shares of $10 par common stock outstanding and 21,000 shares of $100 par, 5% noncumulative, nonpartic

ipating preferred stock outstanding. Dividends have not been paid for the past two years. This year, a $165,000 dividend will be paid. What are the dividends per share for preferred and common, respectively
Business
1 answer:
kow [346]3 years ago
4 0

Answer:

the dividends per share for preferred and common is $5 and $5.45 respectively

Explanation:

The computation of the dividend per share for both stocks is as follows:

For preference one

= 5% of $100

= $5

And, for common one

= ($165,000 - (21,000 × 100 × 5%)) ÷ (11,000 shares)

= $5.45

hence, the dividends per share for preferred and common is $5 and $5.45 respectively

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