Dividends Per Share
Oceanic Company has 15,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends:
Year 1 | $67,500 |
Year 2 | 22,500 |
Year 3 | 135,000 |
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
Preferred Stock (dividends per share) |
Common Stock (dividends per share) |
|
Year 1 | $ | $ |
Year 2 | $ | $ |
Year 3 | $ | $ |
Allocation of Dividends between Preference and common stockholders.
Year | Total Dividends | Preference Dividend | Common Dividend |
1 | $67,500 | $45,000 | $22,500 |
2 | $22,500 | $22,500 | $0 |
3 | $135,000 | $67,500 | $67,500 |
Computation of Dividend per share
Year | Preference Dividend per share | Common Dividend per share |
1 | $45,000 / 15,000 = $3 per share | $22,500 / 50,000 = $0.45 per share |
2 | $22,500 / 15,000 = $1.50 per share | $0 |
3 | $67,500 / 15,000 = $4.50 per share | $67,500 / 50,000 = $1.35 per share |
So Dividend per share =
Year | Preference Dividend per share | Common Dividend per share |
1 | $3 | $0.45 |
2 | 1.50 | $0 |
3 | $4.50 | $1.35 |
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